APAG to raise around Rs2.6bn through offering: SECP approves IPO of APAG for listing on PSX

ISLAMABAD: The Securities and Exchange Commission of Pakistan (SECP) has approved the Initial Public Offering (IPO) of Agro Processors & Atmospheric Gases Limited (APAG) for listing on the Pakistan Stock Exchange (PSX), with the company seeking to raise around Rs2.6 billion through the offering.

APAG will offer 58.05 million ordinary shares, representing 15% of its post-IPO paid-up capital. The shares will be offered at a floor price of Rs32 per share, with an upper price band of Rs44.80 per share. The IPO is expected to raise Rs1.86 billion at the floor price and up to Rs2.60 billion at the upper price limit.

The offering will be conducted through the book-building mechanism, with 75% allocated to institutional investors and high-net-worth individuals, and the remaining 25% will be offered to retail investors.

Around 75% of the proceeds at the floor price will be used for capital expenditure, including plant and machinery, warehousing and storage facilities, and green-energy infrastructure.

About 10% will be utilized for working capital requirements, while the remaining 14% will support marketing and distribution initiatives. Any additional proceeds generated through a strike price above the floor price will be used to further strengthen the company’s working capital.

APAG is engaged in the manufacturing, processing and marketing of edible oil, banaspati, industrial fats and margarine, as well as condiments and sauces.

Its core operations include refining and processing soybean, canola and other vegetable oils.

Promoting a vibrant and efficient capital market through new listings and expanded investment opportunities. Investors are advised to carefully review the prospectus, particularly the risk factors, before making an investment decision.

Copyright Business Recorder, 2026