Karachi: According to a piece of recent news, a gong ceremony was held at the Pakistan Stock Exchange (PSX) on Thursday the 14th of January to score the listing of shares of the Engro Polymer and Chemical Limited (EPCL).
According to the listing, a new inventment opportunity was in the hands of the EPCL which took place on the 31st of December 2020. The CEO Jahangir Piracha performed the gong ceremony, he was also escorted by the Chief Operating Officer (COO) of PSX, Nadir Rahman, board members of the exchange, and senior management of the Consultant to the Issue, Arif Habib Limited.
The EPCL has planned to raise Rs.3 billion by offering 300 million shares at a value of Rs.10 per share. Of the 300 million preference shares, 262.5 million were offered to and subscribed by the pre-IPO investors, whereas 37.5 million were offered to the general public.
Speaking on the occasion, the Chief Operating Officer Nadir Rahman said, “This was an excellent opportunity to invest in the preference shares of a stable, solid, and growing company. EPCL has raised equity capital for further expansion and debottlenecking. The oversubscription level indicates investor confidence in the company. On behalf of Pakistan Stock Exchange, we wish EPCL success.”
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