Three IPOs held in 2017, eight expected next year
Several offerings delayed due to underperforming stock marketKARACHI: Pakistan equity markets witnessed three Initial Public Offerings (IPOs) in 2017 (excluding Modarabas), while eight IPOs are expected in 2018, according to a Topline Securities report. Companies raised Rs8.6 billion through three IPOs in 2017 compared with Rs4.2 billion raised with the same number of IPOs in 2016. The outgoing 2017 turned out to be a tale of two halves for the KSE-100 Index. Due to deteriorating investment climate and some regulatory setbacks, some IPOs scheduled for 2017 were also delayed. AGP Pharmaceuticals plans to offer 35 million shares (12.5%) at a floor of Rs40 per share to increase investor base and improve governance.
Source: The Express Tribune December 09, 2017 04:52 UTC
