Formal enlisting of At-Tahur Limited, a pasteurized milk company, with Pakistan Stock Exchange (PSX) was done on Monday, July 30th 2018.
The Chief Executive Officer of ATL, Rasikh Illahi, rang the opening bell at PSX to begin the trading of shares at the stock exchange.
ATL's Board Advisor, Hamesh Khan said that the initial public offering (IPO) received a huge response from the investors as the number went up to 1700. “The most encouraging thing,” he said, “was that 85 percent of those investors were financial institutions.”
The value of the shares offered was Rs 36.6 million.
“This showed confidence of the investors in the capital market of Pakistan”, he said and added that ATL entered the stock market when it was in a decline but this day’s development was a very healthy sign for the economy.
CEO of ATL, Rasikh Illahi, also commented,” today is a historic day for the capital market.”
The company believes in equity and capacity building, and it is fully shariah compliant.
“We have arrived with the best pasteurized milk. Supreme Court of Pakistan's commission declared Prema milk as one of the best,” he claimed.
He also appreciated Pakistan Stock Exchange’s role in strengthening the country's economy. Pakistan Stock Exchange Limited's CEO, Richard Morin described the enlisting of a big company as a very good development in the capital market.
PSX is playing a very dynamic role in boosting the capital market in Pakistan and was a partner in this IPO, he said. He went on to add that PSX was working hand-in-hand with companies to bring brands and capital development to the market.
“Now, the companies listed with PSX are earning very good profits. PSX had crossed the psychological barrier of 42,000 points.” But, he said, this was not a matter to be proud of. The real achievement is that the companies are showing confidence in the capital markets and investments are being made.