February 02, 2020 (MLN): Air Link Communication Limited, a leading distributor of mobile phones such as Apple, Samsung, TCL, Tecno and Huawei in Pakistan has applied for a listing at Pakistan Stock Exchange (PSX).
In this regard, the company has submitted the Draft Prospects for the issue of shares to High-Net-Worth Individuals/ Institutional Inventors through Book Building, followed by the issue of shares to the General Public/ Retail Investors.
According to the draft prospectus issued by the company to PSX, the company planned to issue 90 million ordinary shares, having the face value of PKR 10 each. The entire issue will be offered through Book Building at a floor price of PKR 50 per share (including a premium of PKR40 per share) with an upper limit of 40% above the floor price. This suggests that the company is intending to raise Rs. 4.5 billion from the issue.
Provisionally, 75% of the issue size i.e. 67.5 million (67,500,000) ordinary shares will be allotted to successful bidders and 25% of the issue i.e. 22.5 million (22,500,000) ordinary shares will be offered to retail investors.
Moreover, the Draft Prospects of the company is placed on the website of the Exchange under the caption “Public Comments on Draft Prospectus of ‘Air Link Communication Limited’ for seeking Public comments under Public Offering Regulations 2017.
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