After listing on Pakistan Stock Exchange (PSX), formal trading in the shares of Loads Limited has started on PSX from Tuesday. On this occasion, a ceremony was held at PSX main trading hall where Chief Executive of Loads Limited, Munir K Bana rang traditional opening bell.
Talking to media, Munir K Bana said that after very positive policy announced by the federal government last year, auto sector is growing rapidly in the country. New players from different countries are interested to come and start their businesses in Pakistan, he said. Many local groups also want to expend their manufacturing capacity due to growing demand, he added.
He said Loads Limited has decided to expand its manufacturing capacity due to growing demand in local market. "It was the main reason that we decided for listing of Load Limited to raise funds that would be used for expansion of the company's manufacturing capacity", he added. Loads Limited offered 50 million shares to the public through initial public offering (IPO) on a premium of Rs 5. On the first day of trading, the share of Loads Limited increased by Rs 1.70 to close at Rs 35.70 with 6.627 million shares.
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