The practice of pre-IPO investment should be discouraged by the SECP as it hurts the interests of the small investor. The initial offering in a pre-IPO is significantly less than the prospective IPO price.
Earlier when companies like Kapco, Hubco, Netsol, SPL and APL went public, they didn’t practise any pre-bidding because of which the small investments turned into profits as well. I request the SECP and the Pakistan Stock Exchange to kindly discontinue the practice of pre-bidding so that small investors can have decent investments in companies.
Ashfaq Sharif
Karachi
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