PSX marks SGFL listing

KARACHI: Pakistan Stock Exchange (PSX) on Wednesday held a gong ceremony to mark the listing of Service Global Footwear Limited (SGFL), a statement said.

The recently concluded Initial Public Offering (IPO) of Service Global Footwear Limited resulted in the sixth listing on the equity board of the Stock Exchange for the fiscal year 2021. “This is a positive development as additional companies are getting listed intermittently since the beginning of this fiscal year,” the exchange said.

The IPO was a resounding success with the strike price being discovered at PKR 53.20 per share. A large number of investors, totaling 416 in number, including institutions as well as (foreign & local) individuals took part in the successful bidding in the book building phase.

The general public portion of the Issue was oversubscribed by 4.9 times showing tremendous interest by the public.

Applications for a total of 50,973,130 ordinary shares against the issue size of 10,221,875 ordinary shares were received, the statement said.