Investment Group, BMA Capital, has been appointed lead manager by Faisalabad-based Sadaqat Textile Mills (Private) Limited for its listing and Initial Public Offering (IPO). The IPO is expected in September 2008 and will be a fresh issue of shares to the general public.
Sadaqat Textile Mills (Private) Limited is a 100 percent export-oriented textiles manufacturing company supplying home textiles globally. The company has a long and successful history of doing business, since 1951, and is well recognised for its value-addition in the country. In its last financial year, the company recorded phenomenal sales growth, of 66 percent, and is projecting 40 percent growth in the current financial year. In this manner, Sadaqat has been a standard bearer for the textile industry.
BMA Capital is one of the leading investment firms in Pakistan's capital market. The firm and its group companies provide a wide range of services with particular focus on capital markets, corporate finance, asset management and retail brokerage, and has been a corporate member of the Karachi Stock Exchange (KSE) since 1992.
In the banking sector, BMA acted as transaction advisor to SAPICO for the sale of Saudi Pak Commercial Bank to an international consortium. BMA is also currently mandated as the sell side advisor to the Privatisation Commission for the sale of a 93 percent stake in SME Bank.-PR