KARACHI: The Agha Steel Industries Limited’s initial public offering (IPO) will result in Agha Steel becoming the third company to be listed on the Pakistan Stock Exchange in the fiscal year 2021. The issue of Agha Steel Industries Ltd consists of 120 million ordinary shares or 20.83pc of the total post-IPO paid-up capital. The issue was offered through 75pc (90 million shares) book building method and 25pc (30 million shares) retail/general public portion. Speaking about the successful IPO of Agha Steel Ltd, Farrukh H Khan, CEO of PSX, stated, “The year 2020 has shown tremendous growth in terms of offerings on the equity board and debt sector of PSX. Bankers to the book building part of the issue was Habib Bank Limited whereas bankers to the retail portion were UBL, Habib Metropolitan Bank Limited, HBL, Bank Al-Habib Limited, Meezan Bank Limited, Faysal Bank Limited, Soneri Bank Limited, Askari Bank Limited and MCB Bank Limited.

Source: Pakistan Today October 22, 2020 17:48 UTC