Karachi: First IPO in 2020 attracted large number investors as IPO of The Organic Meat Company Limited oversubscribed by 1.7times.
“Response to TOMC IPO is a manifestation that investors are desperately looking for new investment avenues,” said a stock t
According to Topline Research, buds worth around Rs1.4 billion received in the first phase of offering to qualified investors. The company offered 40 million shares while they have received bids for 68.1m shares. Retail offering will be done next week. Strike price of the issue was Rs20 which is Rs2 higher than floor price
Leading exporter of halal meat from Pakistan and market leader in the value added segment The Organic Meat Company Limited has closed its Book Building which was Pakistan first IPO after 15 months.
“Inspite of Corona led economic contraction investor response was far better than expectations,” said Topline Research.
Leading local and foreign investors along with high net worth participated in the bidding