TRG Pakistan’s indirect portfolio company to begin trading today on Nasdaq

MG News | August 07, 2020 at 10:08 AM GMT+05:00

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August 07, 2020 (MLN): TRG Pakistan Limited’s indirect portfolio company, IBEX Limited, is poised to start trading on the Nasdaq Global Market on August 7, 2020,

IBEX shares will trade under the ticker symbol “IBEX,” and the offering is expected to close on August 11, 2020, subject to customary closing conditions.

The company has announced the pricing of its initial public offering of 3,571,429 primary and 1,190,476 secondary common shares at a price of $19 per share.

According to the notification to Exchange, the underwriters have been granted a 30-day option to purchase up to an additional 714,285 secondary shares at the initial public offering price less underwriting discounts and commissions.

It is pertinent to mention that TRG Pakistan’s pro-rated stake in IBEX, at the time of pricing, is approximately PKR 18 billion.

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