PSX book building period for sales’ shares extended till today

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Karachi

Securities and Exchange Commission of Pakistan has approved extension in book building period for sale of shares, offered by Pakistan Stock Exchange (PSX) Limited till Thursday.
According to a PSX announcement here Wednesday the one day extension has been made in view of investors’ interest in exchange’s divestment process enabling the eligible investors to get themselves registered until 3:00 pm and bid until 5:00 pm Thursday.
Shares of the Pakistan Stock Exchange Limited were said to being offered to High Net-Worth / Institutional Investors at a Floor price of Rs.28/- per share.
PSX officials said the quantum of public offering is 160,295,320 ordinary shares while the entire issue was being offered via book building process to High Net-Worth / Institutional Investors.
However, the 25% of the offer size i.e. 40,074,000 ordinary shares shall be offered to the Retail Investors at the strike price determined through the book building mechanism, they said.
Any shares that remain unsubscribed by the general public were said to be allocated at pro-rata, to successful bidders as per the book building process.
Meanwhile, till the close of business today, bids of 74,015,392 shares were received from 67 bidders.
An additional number of 26 Institutional and High Net-Worth investors registered themselves with book runner (MCB Bank Limited) to participate in PSX book building process.—APP

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