Interloop Ltd. to be the next entrant in PSX by means of IPO

News Image

By MG News | February 21, 2019 at 11:35 AM GMT+05:00

0:00

February 21, 2019 (MLN): Interloop Limited, largest hosiery manufacturer in Pakistan specializing in socks manufacturing, is currently in course of listing itself on the Pakistan Stock Exchange (PSX) by means of an initial public offering (IPO).

The company intends to expand its existing capacity and to venture into denim manufacturing for which it plans to raise fresh capital amounting to PKR4.91bn through 109mn shares in the IPO (Book building: c82mn, General Public offer: c27mn shares) at a floor price of PKR45/share (premium of PKR35 above par).

The IPO is tentatively planned for the first week of March.

According to an overview published by EFG Hermes, the total cost of the expansion is estimated at PKR11.2bn. Cash inflow from IPO will form the equity portion (44%) of the total expansion cost, whereas the remaining i.e. 56% will be funded through debt.

In case the company is able to raise over PKR4.91bn through the IPO, it plans to finance working capital requirements and partially repay its short-term borrowings.

The company currently has total outstanding shares of 762.4mn. Out of this, c291mn shares are held by each of the two directors (Musadaq Zulqarnain, Chairman and Navid Fazil, CEO), 110mn shares are owned by other directors, while family members and employees own the remaining.

As per the IPO prospectus, 109mn shares will be offered in the IPO out of which 75% will be offered via book building and the remaining 25% will be offered to retail investors.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 133,403.19
324.46M
0.02%
33.04
ALLSHR 83,188.05
1,204.34M
0.13%
106.90
KSE30 40,651.46
104.88M
-0.13%
-53.85
KMI30 192,083.92
123.92M
-0.26%
-496.76
KMIALLSHR 55,847.70
679.22M
0.02%
11.98
BKTi 36,422.88
17.65M
0.29%
105.71
OGTi 28,437.61
10.77M
-0.37%
-105.35
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,160.00 109,685.00
107,680.00
705.00
0.65%
BRENT CRUDE 70.28 70.68
69.03
0.70
1.01%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
2.05
2.15%
ROTTERDAM COAL MONTHLY 106.65 106.65
106.25
0.50
0.47%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.47 68.91
67.33
0.54
0.79%
SUGAR #11 WORLD 16.15 16.37
16.10
-0.13
-0.80%

Chart of the Day


Latest News
July 08, 2025 at 11:29 PM GMT+05:00

PIA bidders shortlisted, Roosevelt JV gets green light


July 08, 2025 at 05:29 PM GMT+05:00

Money Link Exchange shuts down operations


July 08, 2025 at 04:41 PM GMT+05:00

Gold price in Pakistan rises Rs1,500 per tola


July 08, 2025 at 04:25 PM GMT+05:00

CCP clears 69 M&A deals in FY25



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg