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Auction: MTB & PIB-FRB Bid Pattern

August 12, 2020 (MLN): The State Bank of Pakistan released the Bid Pattern for today's MTB Auction.

Auction target is Rs.150.00 billion against a maturing amount of Rs.178.40 billion, showing a net retirement of Rs.28.40 Billion.

Link to Full Bid Pattern

In the previous auction cut off yield for 3, 6 and 12 months was 6.9501, 7.0995 and 7.14 percent.

SBP also released the Bid pattern for today's PIB (Floating Rate) Auction.

Auction Target is Rs.120.00 Billion for 3, 5 and 10 year Bonds, which will be the re-opening of June 18, 2020 issue.

Coupon Rates for are 8.2670, 8.3070 and 8.5170 percent for 3, 5 and 10 years.

Link to Full Bid Pattern



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Gong Ceremony on listing of TPL Trakker Ltd held...

August 12, 2020: In an exciting development for Pakistan’s capital market, TPL Trakker Limited, a pure tech-based company, was listed on Pakistan Stock Exchange w.e.f. Monday, August 10, 2020.

A Gong Ceremony to mark the Company’s listing was held today. This is the second listing for the Financial Year 2020-21, which comes only five (5) days after the successful listing of The Organic Meat Company Limited on the Pakistan Stock Exchange.

The gong striking ceremony was attended by Mr. Ahmed Chinoy & Mr. Muhammad Ashraf Bawany – Board Members of Pakistan Stock Exchange, Mr. Nadir Rahman – COO of Pakistan Stock Exchange, Mr. Sarwar Ali Khan – CEO of TPL Trakker Limited, Mr. Shahid Ali Habib – CEO of Arif Habib Limited (Consultant to the Issue), Mr. Muhammad Fakhar – Associate, Investment Banking at Habib Bank Limited (Corporate Advisor & Bankers to the Issue), senior management and other team members of these organizations.

TPL Trakker Ltd. went public by offering 58.3 Mn shares (Base Issue) at Rs 12 per share along with an additional 57.4 Mn shares (Green-Shoe Option) at Rs.12 per share from its Initial Public Offering (IPO) via the Fixed Price mechanism. The public offering took place on July 22 – July 23, 2020. The public subscription was a success for TPL Trakker Limited as the issue of 58.3 Mn shares was oversubscribed by 14.6 % or 1.15 times.

A total of 1,488 applications were received for subscribing to 66.82 Mn shares, helping TPL Trakker to raise Rs 801.82 Mn from the IPO. Interestingly, a majority of the applications were received through the EIPO system of the Central Depository Company which reflects a growing trend amongst the investors to file online applications of shares in an IPO.

For the IPO, Arif Habib Limited were the Consultants to the Issue and Habib Bank Limited was the Corporate Advisor. Bankers to the issue were Habib Bank Limited, MCB Bank Limited, Meezan Bank Limited, Bank Al-Habib Limited, Habib Metropolitan Bank Limited, and Allied Bank Limited. The public issue was underwritten by Arif Habib Limited, AKD Securities Limited, Habib Bank Limited, Intermarket Securities Limited, Topline Securities Limited, Bank Al Habib Limited, and Next Capital Limited.

Through the capital raised, TPL Trakker Limited plans to finance its regional expansion of IoT solutions, investment in developmental IT infrastructure, development of mapping data, and working capital for Connected Car and IIOT (Industrial Internet of Things) solutions.

Mr. Farrukh Khan, CEO of PSX, while welcoming the second public offering at Pakistan Stock Exchange for the year 2020, said, “It is a matter of great pride to announce the listing of TPL Trakker on PSX, the second company listed in the current year. The successful IPO and listing of TPL Trakker, a pure technology-based company, has been completed efficiently amidst the challenges posed by the Coronavirus and the ensuing impact. This further demonstrates that companies are actively utilizing the Stock Exchange as their preferred platform to raise capital and invest to strengthen their businesses. In recent days PSX has been witnessing record trading volumes. The increased activity proves that Pakistan’s capital market is resilient and fully able to play its part in the country’s economic development, despite the current challenges”.

Mr. Shahid Ali Habib, CEO of Arif Habib Limited, Consultant to the Issue, commenting on the IPO, said, “I am delighted that TPL Trakker Ltd., one of Pakistan’s largest IoT companies, is getting listed at Pakistan Stock Exchange. It is a proud moment for us at Arif Habib Limited to have facilitated this journey for the Company that will be a new pure tech player within the technology sector of the Pakistan Stock Exchange. We have received very good participation from institutions, including mutual funds, banks, insurance companies, and HNWIs in this IPO”.

Speaking at the gong striking ceremony, Mr. Sarwar Ali Khan, CEO, TPL Trakker, said, “Striking the gong is symbolic in many ways for us at TPL Trakker. It rings in a new beginning, and an outlook for the future that is riddled with opportunity. Trakker has come a long way since 2001 and as we expand our portfolio further into Logistics and Transportation, diversify into new verticals, and bring innovative IoT Solutions and Services to the market, we are poised to execute our vision of regional growth. I would like to thank the entire investor community who have had faith in TPL Trakker and its scope. And I am proud and humbled to be a part of the Trakker team without whom none of this is possible”.

Mr. Malik Sheheryar, CFO, TPL Trakker, said, “The gong striking ceremony is a momentous occasion for us at TPL Trakker. The Company’s successful IPO with an oversubscription of 14.6%, given the global pandemic and current economic conditions, is a testament to the strength and potential of TPL Trakker even during such challenging times. I am confident that we will rise above the expectations of our investors and continue to hold our position as a leader in the IoT segment in Pakistan”.

Press Release

PKR appreciates by 19 paisa at interbank trade

August 12, 2020 (MLN): Pakistani rupee (PKR) appreciated by 19 paisa against US Dollar (USD) in today's interbank session as the currency closed the day's trade at PKR 168.08 per USD, against yesterday's closing of PKR 168.27 per USD.

The rupee endured a relatively dull trading session with very little intraday movement, trading in a range of 30 paisa per USD showing an intraday high bid of 168.30 and an intraday Low offer of 168.10.

Within the Open Market, PKR was traded at 168/169 per USD.

Meanwhile, the currency gained 59 paisa against the Pound Sterling as the day's closing quote stood at PKR 219.6 per GBP, while the previous session closed at PKR 220.19 per GBP.

Similarly, PKR's value strengthened by 42 paisa against EUR which closed at PKR 197.62 at the interbank today.

On another note, within the money market, the overnight repo rate towards close of the session was 6.90/7.00 percent, whereas the 1 week rate was 6.95/7.05 percent.

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OGRA to grant permanent marketing license to HASCOL

August 12, 2020 (MLN): Oil and Gas Regulatory Authority (OGRA) has decided to grant permanent marketing license to Hascol Petroleum Limited (HASCOL), in place of its existing provisional marketing license, under the Pakistan Oil ( Refining, Blending, Transportation, Storage, and Marketing ) Rules, revealed a notification issued to PSX.

During these challenging times, this is a great milestone achieved by the company and its management.

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PMEX Commodity Index ends at 4,936 points

August 12, 2020: On Tuesday at Pakistan Mercantile Exchange Limited, PMEX Commodity Index closed at 4,936. The traded value of Metals, Energy, and COTS/FX was recorded at PKR 17.548 billion and the number of lots traded was 23,146.

The major business was contributed by Gold amounting to PKR 13.053 billion, followed by Silver (PKR 2.377 billion), NSDQ 100 (PKR 540.688 million), Platinum (PKR 521.665 million), Currencies through COTS (PKR 402.472 million), DJ (PKR 389.106 million), Crude Oil (PKR 150.351 million), Natural Gas (PKR 59.152 million), SP500 (PKR 31.727 million) and Copper (PKR 21.627 million).

In agriculture commodities, 9 lots of Cotton amounting to PKR 4.780 million were traded.

Press Release

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