Sharif Family’s Ittefaq Iron Industries Gets Listed at PSX

 

With China-Pakistan Economic Corridor (CPEC) on the roll, local companies — particularly in construction business — are flexing their muscles to gear up their businesses by leaps and bounds.

The list includes Sharif family’s Ittefaq Iron Industries Limited — the renowned and emerging irdon company — and it was today approved for listing at Pakistan Stock Exchange (PSX).

The management of PSX has approved the application for formal listing and quotation of shares of lttefaq Iron Industries Limited.

PSX said that it approved the application after firm completed all relevant requirements under the Listing of Companies & Securities Regulations of the Exchange.

It is, therefore, notified that trading for the shares of the company will start on the Ready Board of the Exchange from Monday, July 3, 2017.

The Opening Price of the shares of the Company will be Rs. 30.20/- per share as determined through Book Building process.

In May 2017, Ittefaq Iron Industries floated its IPO at PSX to have received an overwhelming response. The company offered 31,312,500 shares at a floor price of Rs. 12/share, which was oversubscribed by 2.5 times.  Hence, the company was able to generate demand of 78,405,687 shares at Rs. 30.2 per share.

The company has been performing well in terms of production and profits for the past couple of years. Its listing with PSX is likely to make the firm one of the fastest growing public limited companies.

Ittefaq Iron Industries Limited belongs to Alshafi Group of Companies whose roots can be traced back to Ittefaq Foundries, established by Mian Muhammad Sharif in 1940s. Usman Javed — the CEO of the company — is the relative of Prime Minister Nawaz Sharif.


  • Ittefaq Steel : Green Bus, Metro, Rail, Her Government Sectors K Works Main Sub Se Aghe Rehta hai

    • Aamir

      محترم وہاب صاحب سب کو زندہ رہنے کے لئے کچھ نا کچھ کرنا پڑتا ہے آپ بھی کوئی کاروبار یا نوکری کر رہے ہوں گے ہر کوئی جوۓ ، زکات اور چندے پر گزارا نہیں کر سکتا…. امید ہے آپ سمجھ گے ہوں گے

      • محمد عثمان افضل

        5.6 million log be rozgar hyn agar wazir e azam un k liye kuch kare …….??? ku k un ko bhi zinda rehny ka haq hy

        • Nida

          Ji bilkul. 1 or fact ye he ke KSA me mojod Ittefaq Industries me Pakistanio ko Job nahi dete hamare PM, only Saudis & Indians are eligible to apply……..ridiculous.

  • محمد عثمان افضل

    kitna acha hota k humara business man wazir e azam Pkaistan ka mall kha kar Apna business na chamkata, or ittefaq steel ki jaga Pakistan steel yaha hoti

    • Nida

      Sahi keh rahy hen aap, apni monopoly qaim rakhne ke liye Pakistan Steel Mill ka bera gharak kiya he in logon ne :( kis kis cheez ka hisab denge ye qayamat wale din???