Roshan Packages' bookbuilding: Dubai Islamic Bank Pakistan celebrates overwhelming public response

Junaid Ahmed, CEO DIBPL& Tayyab Aijaz, CEO Roshan Packages celebrated the overwhelming public response from investors at an event held in Karachi. The book-building portion of Roshan Packages Limited's IPO resulted in a strike price of Rs 86.25/- per share against the base price of Rs 35/- per share, helping the Company raise Rupees 2.10 Billion from high net-worth investors. The book building portion of the issue was oversubscribed by 6.8 times.
Roshan Packages, which is in the process of getting listed on the Pakistan Stock Exchange (PSX), would utilise the raised funds partly for expansion of its packaging business and partly for settling debt and meeting working capital needs.
The company is selling a total of 32.5 million shares (75% to high net-worth investors and 25% to general public) in its initial public offering (IPO) to raise Rs2.8 billion. The offer of shares to the general public will be made on January 30-31 at the strike price of Rs 86.25 per share.-PR