Secure Logistics Group Limited’s IPO Strikes a Price of PKR 12 Per Share

Karachi, Secure Logistics Group Limited (SLG) has set a strike price of PKR 12 per share for its Initial Public Offering (IPO) after receiving approval from the Pakistan Stock Exchange (PSX), as confirmed by Arif Habib Limited. The approval, detailed in PSX’s Letter No. PSX/GEN346 dated March 6, 2024, paves the way for SLG’s entrance into the public market following a successful Book Building process conducted on March 27 and 28, 2024.

The Book Building attracted significant interest, with total participation reaching approximately PKR 611 million, surpassing the issue size of PKR 600 million by 1.02 times. A total of 82 investors, encompassing a diverse range of financial entities, participated in the Book Building, all securing allocations.

The allocation of shares was distributed across various categories, with Insurance Companies receiving 3,692,104 shares, Commercial Banks/DFIs allocated 4,746,868 shares, and Mutual Funds securing 1,594,989 shares. TREC Holders were the largest recipients, obtaining 17,400,700 shares. Provident/Pension Funds were allocated 184,605 shares, Other Institution/Corporates received 923,026 shares, and High Net Worth Individuals were allocated 8,957,708 shares, culminating in a total distribution of 37,500,000 shares.