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The Southern Networks Limited initial public offering was under-subscribed by nearly 13 percent, according to a notice issued to the Karachi Stock Exchange (KSE) on Wednesday.
The company received total 22,658 applications for 13,042,500 shares an aggregate amount of Rs 130,425,000. Since the number of applications are less than 28,500 so, the balloting will not be required.

Copyright Business Recorder, 2004

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