Lahore, July 28, 2015 (PPI-OT): The Management and Consultant of Al-Shaheer Corporation Limited after successful book building process conducted IPO Presentation in the LSE Auditorium. The senior management of Al Shaheer Corporation Ltd, Chief Operating Officer – Khan Kashif Khan, Company Secretary- Mr. Muhammad Ashraf, Mr. Syed Khurram Shahid – SVP Investment Banking AKD Securities Limited, and Mr. Muhammad Najam Ali – CEO Next Capital Limited along with the team visited the Lahore Stock Exchange to deliver the Pre IPO presentation of AL Shaheer Corporation Ltd.
It was informed to the participants at the beginning of the presentation about the extraordinary market response upon the book building process resulting 2.92 times oversubscription against a total of 18.75 million shares subscribed via book building at the strike price PKR 95 per share. The company has successfully raised PKR 1,781 Million from the book building process.
At the occasion, addressing a large number of investors and TREC holders, Mr. Khan Kashif Khan, Chief Operating Officer- Al Shaheer Corporation Limited explained that the core business function of the company specialises in the production of variety of meat products through export of fresh beef and mutton to Middle East and an established retail network of 43 outlets located nationwide offering fresh meat and ready to cook items under the brand name of Meat one and Khas, each catering to a specific market segment. Besides this, facilitating the corporate clients through supplying mass delivery is also another vital business function of the company.
Pakistan’s total meat consumption is estimated at PKR1.44 Trillion while Meat One expected FY15 revenue is PKR 1.00bn or 1% of the total consumption signifying growth opportunities. Amongst the company’s plan to expand the retail outlets to 101 nationwide in next four years, The Company is pro actively expanding its export market to Egypt and Malaysia.
ASCL also aims to set a bench mark by establishing Pakistan’s largest feedlot fattening farm located in Thatta District, Sindh under the name of AL Shaheer Farms Private Limited – a wholly owned subsidiary of ASCL. In order to meet the growing demand in the market and to add value in the business, ASCL Aims to set up processed meat facility and poultry slaughtering plant in Lahore. After the successful book building, ASCL is scheduled to offer 6.25 million shares to the general public through IPO on 27th July, 2015 till 29th July, 2015.
LSE Managing Director, Mr. Aftab Ch in his message for the participants of the presentation, appreciated the management of Al-Shaheer Corporation Limited for considering the listing for multiple benefits and enhancing company’s brand exposure both locally as well as globally. Mr. Aftab stressed that besides raising capital, listing has numerous benefits that add on to the overall wealth creation of the company, its employees and subsequently to the economy on the whole.
For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan
Category: General Business News