Karachi, March 14: Interloop Limited successfully raised Rs. 5,025 million through the largest private sector Initial Public Offering (IPO), placing it amongst the top 50 companies listed on the Pakistan Stock Exchange by market capitalization.
The two day book building process was over-subscribed by 1.37 times with price closing at Rs. 46.10 per share. The total demand received was Rs. 6,727 million against total issue size of Rs. 4,905 million, oversubscribed by RS. 1,822 million or 1.37 times. Arif Habib Limited is the Consultant to Issue for this IPO.
Interloop is one of the world’s largest hosiery manufacturers and has an annual turnover in excess of Rs. 30 billion. Pakistan’s seventh largest exporter generates approximately 90% of its revenue through exports.
This IPO received wide-spread participation from investment community ranging from major commercial banks, insurance companies, local and foreign institutions, asset management companies, TREC holders and high net worth individuals.
The general public will be offered shares on 21st and 22nd March at a price of Rs. 46.10 per share.