FAST CABLES LIMITED REPORTS INITIAL PUBLIC OFFERING SUBSCRIPTION RESULTS

Karachi, Fast Cables Limited announced the subscription results for its Initial Public Offering (IPO) of ordinary shares, According to information available from the Pakistan Stock Exchange (PSX). The public subscription, which took place on May 22 and May 23, 2024, saw applications for a total of 14,201,000 ordinary shares against an issue size of 32,000,000 ordinary shares.

The final subscription figures were compiled by M/s CDC Share Registrar Services Limited and include detailed submissions from various bankers to the issue. According to the data provided, the number of applications received varied by share category, with smaller share lots receiving a higher number of applications. In detail, the 500 share applications received 1,218 applications totaling 609,000 shares for PKR 14,890,050. The 1000 share category saw 1,142 applications totaling 1,142,000 shares for PKR 27,921,900, and the 1500 share category had 180 applications totaling 270,000 shares for PKR 6,601,500.

For larger share categories, 700 applications were received for the 2000 shares category, totaling 1,400,000 shares for PKR 34,230,000. The category for applications above 2000 shares received 719 applications totaling 10,780,000 shares for PKR 263,571,000. The overall total reached 3,959 applications for 14,201,000 shares, amounting to PKR 347,214,450.

The company has also enclosed bank-wise subscription figures, reported by the bankers and compiled by M/s CDC Share Registrar Services Limited, which are duly stamped and signed for record-keeping purposes. Subject to scrutiny, applications for all ordinary shares will be allotted.