Pakistan's At-Tahur to initiate IPO on June 25 at Rs. 20/share

According to a report from an international news-wire, At-Tahur Limited – operating the brand name of Prema – and Arif Habib (consultant to the offer) have finalized the date of Initial Public Offering as of 25 – 26 June, 2018.

According to preliminary reports, the company seeks to issue 36.7 million shares with 75 percent allocation for book building and 25 percent for retail investors. The unsubscribed retail portion will be allocated to book building bidders.

The company had applied for an IPO on the bourse in March, 2018 whereby it had submitted a draft prospectus for issuance of shares to individuals, investors.

As per the notice submitted earlier, “The draft Prospectus of the Company is hereby placed on the website of the Exchange under caption “Public Comments on Draft Prospectus of At-Tahur Limited” for seeking public comments as required under Section 3 (11) of the Public Offering Regulations, 2017 and the Regulation No. 5.2.2 (ac) of Listing of Companies and Securities Regulations of PSX.”

The company seeks to utilize the IPO funds to increase milk capacity, herd size and plant.

At-Tahur Dairies limited started operations in 2007 and launched Prema milk brand in 2008. It currently offers products like Milk, Yoghurt, Raita and Flavored Yogurts categories.