IPO to Offer 150 Million Shares
KARACHI: The Pakistan Stock Exchange has approved the prospectus for Tasdeeq Information Services Limited’s initial public offering.
The company will issue 150 million ordinary shares through the Book Building method, according to a PSX notice issued Thursday.
Under the prospectus, 75 percent of the issue, comprising 112.5 million shares, will undergo book building.
The company has set a floor price of Rs1.90 per share and a ceiling of Rs3.00 per share. Consequently, the book-built portion could raise between Rs213.75 million and Rs337.5 million.
Bidding Scheduled for August 5-6
Eligible participants can register with PSX from July 31 to August 6, between 9am and 5pm. However, registration will close at 3pm on August 6.
Meanwhile, participants must submit expressions of interest to NCCPL between July 31 and August 6. The bidding process will run from August 5 to August 6, between 9am and 5pm.
First-time NCCPL Clearing Members must register with PSX before participating. Existing registered participants do not need to register again.
Additionally, eligible participants must submit expressions of interest to NCCPL and provide margins under the Public Offering Regulations, 2017.
NCCPL will collect margin money from July 31 through August 6. Successful bidders must provide final payments on August 7, while unsuccessful bidders will receive refunds.
Any increase in bids will require additional margin deposits.
PSX said the approved procedural framework and Book Building System manual are available on its website.
