Synthetic Products Enterprises Limited (SPEL) in collaboration with its lead managers Arif Habib Limited arranged an introductory session at LSE for TREC Holders and Investors of Exchange regarding its upcoming IPO.
Almas Hyder, Chairman SPEL briefed the audience about the company and IPO. According to him, SPEL has maintained tremendous growth rate over last several years. SPEL has been the winner of Pakistan Fast Growth 25, Pakistan Fast Growth 100 and Arabia Fast Growth 500. SPEL has exposure to a very selective client base in FMCG and automotive sector. Their customers include blue chip companies of both the Automotive & FMCG sector. Their products are also exported to over 17 countries around the globe including Europe and US.
About 19.35 million Shares are being offered to the public within an approved band of Rs 23 and Rs 39.1, which is 25 percent of the post IPO paid-up capital of the company. Book building was successfully held on December 8, resulting in a strike price of Rs 30, while the IPO of SPEL Limited is scheduled on January 6 and 7.
The presentation was attended by many leading investors and brokers of LSE. Aftab Chaudhry, Managing Director LSE; Zia Hyder Naqi, CEO SPEL; Munir Saleem and Shahid Ali Habib, CEO Arif Habib Ltd, were also present during the session.
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