The formal trading of Safe Mix Concrete Products Limited (SMCPL) has started at the Karachi Stock Exchange (KSE) on Thursday. The trading session was started with ringing of traditional opening bell. Arif Habib, Chairman Arif Habib Group, rang the bell.
Talking to media, Arif Habib said the listing and IPOs of new companies is a very positive sign for equity market. He said that four Initial Public Offerings have been witnessed in just two months of the current calendar year 2010 as compared to only three listings last year.
He pointed out that some more IPOs are in the pipeline and expected public offering soon. "Some new big companies including Wateen Telecom and Tuwairqi Steel Mills Limited are interested in the listing at the local stock market," he added. The SMCPL, on the first day of its formal trading at the local bourse, increased by Rs 1.14 to close at Rs 12.14. It was the third highest volume leader with total turnover of 5.888 million shares.
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