Pakistan Stock Exchange sees eight IPOs in FY21

Published June 30, 2021
The Pakistan stock market saw a thriving Initial Public Offering (IPO) market in the FY21.  — AFP/File
The Pakistan stock market saw a thriving Initial Public Offering (IPO) market in the FY21. — AFP/File

KARACHI: The Pakistan stock market saw a thriving Initial Public Offering (IPO) market in the FY21.

In all eight equity offerings were witnessed during the year which raised Rs20bn, the highest sum mobilised by corporates in 14 years — the previous best was 12 transactions in FY07.

The eight new listings included: The Organic Meat Company, TPL Trakker Limited, Agha Steel Industries Limited, Panther Tyres Ltd, Service Global Footwear Ltd, Citi Pharma Ltd and Pakistan Aluminium Beverage Cans Ltd. The eighth was a preference share issuance of Engro Polymer and Chemicals Ltd.

Head of Research at Arif Habib Ltd Tahir Abbas said that besides the equity offerings, Bank Alfalah Ltd issued a Term Finance Certificate (TFC) during the year to raise up to Rs11bn. “Hence, total capital raised via debt plus equity IPOs stood at Rs31bn in FY21”.

Published in Dawn, June 30th, 2021

Follow Dawn Business on Twitter, LinkedIn, Instagram and Facebook for insights on business, finance and tech from Pakistan and across the world.

Opinion

Editorial

Ukraine initiative
Updated 21 Feb, 2025

Ukraine initiative

Whether Trump’s Ukraine peace initiative succeeds or not, it will be difficult for Kyiv, Europe to face Russian military machine without US support.
High cost of SOEs
21 Feb, 2025

High cost of SOEs

THERE are losses and then some. The finance ministry’s latest overview of the federally owned state enterprises...
Poor impression
21 Feb, 2025

Poor impression

RECENT developments in the Senate have provided cause for concern on how parliamentary business is being conducted....
Premature alarm
Updated 20 Feb, 2025

Premature alarm

Improvement in headline inflation gives policymakers chance to fix investment policies, implement structural reforms.
Forsaken province
20 Feb, 2025

Forsaken province

AND the endless cycle of violence continues. The brutal killing on Tuesday night of seven Punjab-bound passengers in...
In poor health
20 Feb, 2025

In poor health

THE absence of decent and affordable healthcare in the country continues to ruin lives. An example of this is ...