Karachi: Loads Limited has successfully completed the book building process today with an overwhelming response from high net wroth investors and institutional investors. A massive demand of 127.836 million shares was seen over the available sale of 35.625 million shares of loads limited. The book building was oversubscribed at 3.59 times.
Arif Habib Limited was the book runner for book building process. The book building continued on September 06 – 07, 2016 and the strike price had been determined at Rs. 34. Amazingly, impressive response has been witnessed as the book building was oversubscribed by huge number.
Now, general public will be able to file application for 500 shares or in its multiple. Therefore, minimum Rs. 17 thousand will be required for applying. The allocation of shares will be made in accordance to the set rules while considering the applicant of 500 shares as preferred ones.
The general public portion of 14.375 millions shares will be offered for two days i.e. 28th and 29th September, 2016 through Askari Bank Limited, Bank Alfalah Limited, Habib Bank Limited, MCB Bank Limited, Summit Bank Limited, Bank Al Habib Limited, Faysal Bank Limited, Habib Metropolitan Bank, Soneri Bank Limited and United Bank Limited.
Loads Limited is offering 2.5 million ordinary preference shares for their employees too. This portion is included in total offer to the general public.
United Bank Limited and Summit Bank Limited will also offer online subscription of shares. Those users who have registered for Internet Banking will be able to file their applications online.
The application form for public will be issued within few days.