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PSX holds gong ceremony on 5th listing of FY21
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
PSX holds gong ceremony on 5th listing of FY21
thenews.com.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thenews.com.pk Daily Mail and Mail on Sunday newspapers.
Panther Tyres raises Rs2.63b in IPO
Financing will be utilised for expansion of its tyre, tube manufacturing capacity
10 of 20 funds outperformed benchmark 100 index. PHOTO: FILE
Panther Tyres Limited raised funds worth Rs2.63 billion through auction of 40 million shares to institutional, rich individual and retail investors at the Pakistan Stock Exchange (PSX) on Thursday.
The financing will be utilised for expansion of its tyre and tube manufacturing capacity.
The company got a share price of Rs65.8 each during the two-day (Jan 27-28) bidding process, which is better known as book building. The company made a new record during the auction as it sold shares at the upper limit. As per details, the company opened bidding at Rs47 per share, which could increase by a maximum of 40% to the upper limit of Rs65.8 in accordance with the prevailing laws.
PSX ends near two-year high despite chaos
Research houses anticipate index to surge above 50,000 by end-2021
The SPV will also be listed on the Pakistan stock market by floating its shares in order to generate funds for the project. PHOTO: FILE
Pakistan’s stock market - a barometer to gauge economic performance - managed to maintain an uptrend, as it closed near a two-year high in 2020 following recovery of a badly riddled economy despite all odds, which included the outbreak of a pandemic and loud domestic political noise.
Pakistan Stock Exchange’s (PSX) benchmark KSE-100 index increased net 7.5% or 3,020 points during the year to close near a two-year high at 43,755 points on Thursday compared to 40,735 points on December 31, 2019.
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