Octopus to offer another 5m shares

News Image

By MG News | November 15, 2021 at 10:40 AM GMT+05:00

0:00

November 15, 2021 (MLN): The Board of Directors of Octopus Digital Limited have resolved to further issue a minimum of 5million shares by way of other than right, subject to the approval of the resolution by the Shareholders and Securities and Exchange Commission of Pakistan (SECP).

The objective of capital raising is to support Octopus’ growth agenda i.e., to develop further intellectual properties to cater wider base of corporates/conglomerate companies.

For the aforesaid resolution, BMA Capital Management Limited has been appointed to act as exclusive Financial Advisor to assist the Company in all related activities for private placement.

As per the company’s notice to PSX, the quantum of the issue both in terms of the number of shares and percentage of paid-up capital before and after the issue is 3.66% and 3.53% respectively.

Further, provided that the number of shares may be issued to make the free float up to 25% of paid-up capital after issue, the notice said.

Moreover, these shares will be issued at a prevalent market price or any price at a discount/premium to a prevalent market price, which will be announced later.

Based on a promising growth outlook and experienced management, the board believes that benchmarked price is justified.

The shares will be issued by way of other than right in order to allow local and foreign corporates to take exposure in Octopus Digital Limited.

The breakup value per share as per the latest available audited statement i.e., 31st Dec 2020 is PKR 11.92/- per share.

As per the company, the proposed new shares shall rank Pari Passu in all respects with the existing ordinary shares of the Company. The proposed new shares shall not be different from the issued ordinary shares in any respect.

The average market price (from listing date) of Octopus Digital Limited share is PKR 68.46/- per share and the latest price as of 11th November 2021 is PKR 78.50.

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 109,155.00 109,685.00
107,680.00
700.00
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