The Bank of Khyber (BoK) is going to be listed at Karachi Stock Exchange (KSE) next year as it is going to offer its 49 percent shares through initial public offering (IPO) by the end of 2004, Managing Director of BoK, Dr Munir Ahmad told Business Recorder here on Monday.
He said that at present the bank is busy in the pre-IPO process and is going to select brokerage companies of Karachi Stock Exchange (KSE). He said that the process would be completed by the end of December this year, which would be followed by listing the bank on KSE next year.
Dr Munir Ahmand said that before offering shares through IPO, all formalities, including increase in paid up capital to Rs 2.1 billion, would be completed. He said that the bank is expecting to get Rs 700 to Rs 800 million through initial public offering. He said that for this purpose the balance sheet, a prerequisite for IPO, has been prepared. He said that according to the bidding the price of a share of the bank of Rs 10 has gone up to Rs 17 and Rs 18.