Page 12 - February-March-2019

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Interloop raises Rs5.032b from

investors at Pakistan

Stock Exchange

Interloop Limited raised Rs 5.02 billion at the equity financing of Rs4.48 billion from the bourse in
Pakistan Stock Exchange (PSX) by selling 12.5% of June 2017.”
its total shareholding to a variety of investors for
Rs46.1 per share. The IPO attracted widespread participation from
the investor community which included major
Bids were opened at Rs45 per share for the sale of commercial banks, insurance companies,
109 million shares, which constituted 12.5% of the domestic and foreign institutions, asset
paid-up capital of Interloop. The financing raised management companies, Trading Rights
will be invested in expansion of the company’s Entitlement Certificate (TREC) holders and high
hosiery production and setting up a new plant for net-worth individuals.
stitched denim jeans.
Of the total 109 million shares allocated for sale in
Interloop is set to find a place among top 50 listed the IPO, the company targeted to sell 75% (or
companies at the PSX in terms of market 81.75 million shares) to institutional investors and
capitalization. Arif Habib Limited is the consultant high net-worth individuals and 25% (27.25 million
to issue for the IPO, while Mr Ismail Iqbal Securities shares) to retail investors. Interloop is one of the
has been the book runners. Mr Arif said, “Earlier, world’s largest hosiery manufacturers and has an
the PSX as a company had raised the largest annual turnover in excess of Rs30 billion.

February/March 2019