KARACHI: Secure Logistic Group (SLG) has become the first IPO in the logistics sector on the main board of the Pakistan Stock Exchange (PSX).
Issue size of Rs 600 million was oversubscribed with strike price of Rs 12/share.
A well-rounded participation was observed with strong participation from institutions (76 percent) and high net-worth individuals (24 percent).
Amongst institutions, financial institutions and mutual funds contributed 27 percent while Corporates and Others 49 percent.
Pre-IPO capital raise was Rs 585 million led by existing institutional shareholders; i.e., Saudi Bugshan Group and Karandaaz Pakistan translating into a total capital raise of Rs 1.19 billion.
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