April 9, 2021
Stocks rallied on Thursday led by bargain-hunting amid triggers like G20 debt relief, easing treasury bills yields, and bets on strong corporate results, dealers said.
Pakistan Stock Exchangeâs (PSX) KSE-100 Shares Index gained 1.79 percent or 787.78 points to close at 44,741.36 points.
Volumes increased to 383.105 million shares from 370.526 million in the last trading session.
A A H Soomro at KASB Securities said stock market bounced back from massive foreign selling seen a day earlier.
Interest was seen across the board as value hunters searched for bargains, he said.
âUndoubtedly, equities as an asset class look quite attractive for medium- and long-term investors given the low interest rates.â
Service Global raises Rs2.175 billion from IPO
It may now get bigger pie of Service Long March SAMAA | Bilal Hussain - Posted: Apr 9, 2021 | Last Updated: 5 hours ago SAMAA | Bilal Hussain Posted: Apr 9, 2021 | Last Updated: 5 hours ago
Source: gfmag.com
The Service Global Footwear Limited has managed to raise Rs2.175 billion through a two-day book-building, which saw participation from institutions and high net-worth investors.
The book-building was over-subscribed 5.8 times, with the share price closing at Rs53.2. It saw a total demand of Rs8.946 billion received against the issue size of Rs1.554 billion.
The IPO proceeds will be invested by the company in Service Long March Tyres Ltd, which will establish a tyre manufacturing unit in Pakistan through a joint-venture between Servis Group and Chaoyang Long March of China.
Service Global Footwear Ltd IPO Oversubscribed by 5 8 Times propakistani.pk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from propakistani.pk Daily Mail and Mail on Sunday newspapers.
Service Global Footwear IPO: How much the stock is worth?
Experts are divided on the share price SAMAA | Bilal Hussain - Posted: Apr 7, 2021 | Last Updated: 4 hours ago SAMAA | Bilal Hussain Posted: Apr 7, 2021 | Last Updated: 4 hours ago
As the Service Global Footwear Limited begins to raise funding through initial public offering at the Pakistan Stock Exchange, experts are divided on what will be the fair price of the stock.
The SGFL is looking to raise at least Rs1.55 billion by offering its 40.9 million shares to institutions and rich individual investors on April 7 and 8. The stock will be sold to common investors on April 12 and 13 at the PSX.
The March 26 decision to withdraw incentives for new listings on the Pakistan Stock Exchange (PSX) makes no sense.
Just compare the number of listed companies on the Bombay Stock Exchange 5,439 with market capitalisation of $2.8 trillion with the miniscule 540 on the PSX and market capitalisation of $52 billion. It can be concluded that public money managers in Islamabad do not understand the importance of mobilising funds from the equity market by companies.
The tax credit granted to encourage companies for enlistment was abolished through Tax Laws (Second Amendment) Ordinance 2021. The concession had been granted through Finance Act 2010, which provided that “Where a taxpayer being a company opts for enlistment in any registered stock exchange in Pakistan on or before June 30, 2022, a tax credit equal to 20 per cent of the tax payable shall be allowed for the tax year in which the said company is enlisted and for the following three tax years: provided that the tax credit