In view of investors' interest observed in PSX divestment process, Pakistan Stock Exchange Limited has announced that the Securities and Exchange Commission of Pakistan has allowed extension in time for the book building for offer for sale of shares of the PSX for one day, ie, up to Thursday, June 8, 2017. Accordingly, the eligible investors can now register until 3:00 pm and can bid until 5:00 pm on Thursday, June 8, 2017.
The shares of the Pakistan Stock Exchange Limited are being offered to High Net-Worth/Institutional Investors at a floor price of Rs 28 per share. The quantum of public offering is 160,295,320 ordinary shares. The issue is being offered via book building process to high net-worth/institutional investors. However, the 25 percent of the offer size, ie, 40,074,000 ordinary shares will be offered to retail investors at the strike price determined through the book building mechanism and any shares that remain unsubscribed by the general public will be allocated at pro-rata, to successful bidders as per the book building process.
Till close of business today, bids of 74,015,392 shares have been received from 67 bidders. Further, 26 institutional and high net-worth investors have been registered themselves with book runner (MCB Bank Limited) to participate in PSX book building process.-PR
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