Book Building: Saif Power shares on sale

KARACHI: The book-building process of the offer for the sale of shares in Saif Power was oversubscribed on Tuesday by 3.17 times. Arif Habib Limited, which served as the offer’s book runner, received 115,017 bids against the offer of 36,231,500 ordinary shares. These shares consisted of 75% of the total offer. The strike price for Saif Power clocked up at Rs30 per share against the price bank of Rs18-Rs30 per share, resulting in a transaction of Rs3.45 billion. Another 12,077,000 ordinary shares, or 25% of the total issue, will be offered to the general public through an initial public offer. The total offer consists of 48.3 million ordinary shares of Rs10 each, constituting 12.5% of the company’s paid-up capital.

Published in The Express Tribune, October 1^st, 2014.

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