PABC Prepares For Listing To Raise Rs 3.3 Bn

Pakistan Aluminum Beverage Cans Limited, the only Can-maker company of the country, prepares to raise at least Rs 3.3 billion capital by offering 26 per cent stake to institutional and ordinary investors in an initial public offering on Pakistan Stock Exchange

KARACHI, (UrduPoint / Pakistan Point News - 18th Jun, 2021 ) :Pakistan Aluminum Beverage Cans Limited, the only Can-maker company of the country, prepares to raise at least Rs 3.3 billion capital by offering 26 per cent stake to institutional and ordinary investors in an initial public offering on pakistan stock exchange.

The book building will take place on 22 and 23 June 2021 followed by public subscription on 29 and 30 June, 2021, said a release issued here on Friday.

The entire offer of 93.8 million ordinary shares, or 26 per cent of the post-IPO shareholding, will be done through the book-building process at floor price of Rs 35 per share.

The successful bidders will provisionally be allotted only 75 per cent of the issue size and the remaining shares will be offered to the retail investors at the strike price.

As the result, PABC will raise at least Rs 3.3 billion through IPO. But, based on the interest from investors during the book building process, the strike price can rise by 40 percent (Rs 49 per share); helping the company collect Rs 4.6 billion.