SE Fruits IPO book building ends at Rs40 strike price
SE Fruits and Vegetable Limited concluded its initial public offering book-building process in Karachi on Tuesday with a strike price of Rs40 per share.
Institutional demand exceeds supply quickly
The book-building phase finished on Tuesday after investors subscribed to the shares at the floor price. Demand from institutional and high-net-worth investors reached 1.6 times the number of shares offered during this period.
Public sale scheduled for late September
A total of 30 million ordinary shares are being offered to represent 32.01 percent of the company's post-IPO paid-up capital. The remaining 7.5 million shares will be available for purchase by the general public on September 28 and 29.
Proceeds target working capital growth
Joint Lead Managers Topline Securities Limited and Growth Securities Limited oversee the issue structure for this export-oriented company. The raised funds will primarily strengthen the firm's working-capital position to support larger seasonal procurement efforts.
All 2 outlets report consistently
No differences in figures, names or dates across these reports.
- Business Recorder
- Dawn
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2 independent outlets. Headlines as published. Links open the original report.