SLG IPO oversubscribed on PSX main board

News Image

MG News | March 29, 2024 at 06:02 AM GMT+05:00

0:00

March 29, 2024 (MLN): In Pakistan's logistics sector, Secure Logistics Group (SLG) has emerged as the pioneer IPO on the main board of the Pakistan Stock Exchange (PSX), as the issue, with a size of Rs600 million, was oversubscribed on Thursday with a strike price of Rs12 per share.

A diverse array of investors participated in the book-building process. Institutions accounted for a substantial 76% of the total participation, with high net-worth individuals also contributing significantly, comprising 24% of the overall subscription.

Among institutional investors, financial institutions and mutual funds demonstrated notable confidence in SLG's future, contributing 27% of the total subscription.

Additionally, corporates and other institutional entities made up 49% of the institutional participation, further highlighting the broad-based support for SLG's IPO.

Before the IPO, SLG conducted a pre-IPO capital raise of Rs585 million, with leading institutional shareholders such as the Saudi Bugshan Group and Karandaaz Pakistan. This pre-IPO capital raise, combined with the IPO proceeds, culminated in a substantial total capital raise of Rs1.19 billion.

Arif Habib Limited played a crucial role as the lead manager and book runner for the IPO.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 157,478.54
132.58M
0.83%
1300.72
ALLSHR 96,403.84
494.30M
0.81%
773.45
KSE30 48,024.86
108.76M
0.73%
346.39
KMI30 231,825.17
84.64M
0.93%
2142.95
KMIALLSHR 64,890.57
209.44M
0.81%
523.80
BKTi 42,380.09
66.42M
1.09%
457.28
OGTi 31,724.06
7.44M
-0.04%
-11.74
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 117,805.00 118,295.00
116,115.00
1980.00
1.71%
BRENT CRUDE 67.73 68.01
67.50
-0.22
-0.32%
RICHARDS BAY COAL MONTHLY 84.00 0.00
0.00
-0.40
-0.47%
ROTTERDAM COAL MONTHLY 93.50 93.50
93.50
0.15
0.16%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 63.46 63.82
63.24
-0.59
-0.92%
SUGAR #11 WORLD 16.23 16.59
16.23
-0.33
-1.99%

Chart of the Day


Latest News

Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg