Pakistan First IPO of 2020 Oversubscribed 1.9 times
By MG News | July 07, 2020 at 05:32 PM GMT+05:00
July 07, 2020: The Organic Meat Company Limited (TOMC), i.e. the leading exporter of halal meat from Pakistan and market leader in the value-added segment, has closed its Book Building successfully.
In spite of Corona led economic contraction, the investors’ response was far better than the expectations, with several leading local and foreign investors along with high net worth investors participating in the bidding.
The company has received total participation of Rs. 1,371,162,584 against an issue szize of Rs. 720,000,000 at the floor price of Rs. 18 per share. The issue has been oversubscribed by 1.9x.
The total investors participation in the Book Building of TOMCL were 136 out of which 95 became successful investors.
Out of the total provisional allocation of 40 million shares, around 20.8 million have been allocated to High Net worth Individuals, 5.5 million to TREC Holders, 4.3 million to Mutual Funds, 4 million to Development Financial Institution and 2.2 million to Insurance Companies.
| S. No | Category Wise Investors | Provisional Allocation | % Holding |
|---|---|---|---|
| 1 | Development Financial Institution | 4,000,000 | 10% |
| 2 | Foreign Companies | 2,129,351 | 5.3% |
| 3 | High Net Worth Individual | 20,785,089 | 52% |
| 4 | Insurance Companies | 2,239,276 | 5.6% |
| 5 | Modarabas | 223,000 | 0.6% |
| 6 | Mutual Funds | 4,284,626 | 10.7% |
| 7 | Other Institution/Corporate Body | 748,428 | 1.9% |
| 8 | Providen/Pension Funds | 110,000 | 0.3% |
| 9 | TREC Holders | 5,480,230 | 13.7% |
| Total | 40,000,000 |
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