Pakistan First IPO of 2020 Oversubscribed 1.9 times

MG News | July 07, 2020 at 05:32 PM GMT+05:00

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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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