PSX book building: share sale offer oversubscribed

The book building process for the offer of sale of shares of Pakistan Stock Exchange Limited (PSX) is oversubscribed by 5,411,155 shares at the strike price of Rs 28.00 per share. Pakistan Stock Exchange received total participation for 165,706,475 shares against the offer size of 160,295,320 shares. As many as 150 eligible investors participated in the book building process.

“The resultant strike price as a consequence of the book building process was Rs 28.00 per share translating into total offer size of Rs 4,488 million,” the PSX said. “Pakistan would be the first country in South Asia having self listing of its stock exchange by the month-end,” senior analyst Muhammad Sohail said. The book building process was announced for June 6 and 7, 2017, however the date was extended and the process completed on Monday. In the next phase, the PSX would offer remaining 40.074 million shares to retail investors at the strike price of Rs 28.00 per share today (Tuesday).