Book-building process of ASIL ends up in strike price of Rs 32

MG News | October 08, 2020 at 06:28 PM GMT+05:00

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October 8, 2020 (MLN): The book-building process of the Initial Public Offering (IPO) of Agha Steel Industries Limited (ASIL), has resulted in a strike price of Rs 32 per share on Wednesday.

Arif Habib Limited, who was the consultant to the Issue for this IPO, updated via notification to PSX that total of 298 investors participated in the book building of ASIL, of which 258 were deemed successful.

The company received total participation of Rs. 4.4 billion against an issue size of Rs. 2.7 billion at the floor price of Rs. 30 per share. The issue has been oversubscribed by 1.63x.

Out of the total provisional allocation of 90 million shares, around 18.647 million have been allocated to High Net worth Individuals, 17.143 million to Other Institution or Corporates, 15.1 million to Mutual Funds, 13.4 million to Insurance Companies, 12.995 million to Commercial Banks/ DFIs whereas, 10.53 million and 2.172 million shares have been allocated to TREC Holders and Provident/ Pension Funds respectively.

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