The 2nd issue of Term Finance Certificates (TFCs) of Orix Leasing Pakistan Limited (OLPL) for general public has been oversubscribed to Rs 777.415 million against the aggregate amount of Rs 500 million offered to the general public. The TFCs of the aggregate amount of Rs 2,000 million offered to institutional investors have been fully subscribed.
In an information sent to the Karachi Stock Exchange (KSE) here on Thursday, it was said that since the public issue is oversubscribed, all applicants will be allotted TFCs of the aggregate value of Rs 5,000 each, and any TFCs left unsubscribe after such allotment will be allotted on a pro-rata basis to those who have applied for TFCs exceeding the aggregate face value of Rs 5,000. The subscription for the 2nd issue of TFCs of OLPL was from May 23, 2007 to May 25, 2007 and the issue has been oversubscribed.
As per the clause 2.1 (the TFC issue) of the prospectus, TFCs of the aggregate amount of Rs 500 million have been offered to the general public. In reply, the company received good response from the general public and the issue is oversubscribed in terms of amount.
The company received 34 applications from institutional investors of Rs 2,000 million while 70 application from general public of Rs 777.415 million. The total 104 applications of Rs 2,777.415 million were received.