Pakistan’s pharmaceutical giant, Searle Pakistan Limited, is all set for the country’s large initial public offering in its history.
According to sources, Searle Pakistan Limited has officially filed for listing at the Pakistan Stock Exchange.
The parent company, Searle, intends to issue approximately 350 million shares of its wholly-owned subsidiary. Searle Pakistan Limited, according to a notice issued by the Pakistan Stock Exchange. This makes it the country’s largest initial public offering (IPO) on record, after Airlink’s listing last month.
The IPO’s floor price has been finalized by the financial advisors to the transaction while the strike price will be determined through Bookbuilding.
Searle Company Limited was established in Pakistan as a private limited company in October 1965 and was converted into a public limited company in November 1993. Its holding company is International Brands Limited.
It manufactures pharmaceutical products, primarily cardiovascular, allergy, and cough preparations, infant milk formulas, and biotechnology products.
With six production plants in Karachi and Lahore, Searle Company Limited employs about 600 staffers and supplies products to countries like the Philippines, the UAE, and a number of European countries.
During these difficult and challenging times, which had severe repercussions on Pakistan as well as on the global economic environment, Searle secured an impressive performance during the year ended June 30, 2021. The company reported revenue of Rs. 16.57 billion. It reported a profit after tax Rs. 2.12 billion as compared to a profit of Rs. 2.45 billion.
Pakistan has had a record number of IPOs this year, with eight IPOs offered in FY 2021 compared to none in the previous fiscal year.
Last month, the smartphone assembler, Air Link Communication, raised Rs. 6.43 billion in Pakistan’s most lucrative private sector IPO last month. It sold 90 million shares at a price of Rs. 71.5 per share.
Similarly, the IT services company Octopus Digital’s IPO was oversubscribed by a record 27 times and raised a capital of Rs. 1.11 billion. It sold 27.35 million shares at Rs. 40.6 per share.
sb dramy bazi hai yh . medicine company khob medicine ki qeemat barha rahe hain . hum log kesy khardidy or stock mai share se khoob paisa bana rahe hain . gharib logon per zulm
There were three IPOs on PSX last year. Get your facts correct before publishing false news.
Please read again. It’s written Fiscal year. Thank you
Although it sounds good but still let’s wait and see how things unfold themselves later on as elections are nearing and internal as well as external politics are quite disturbing. Uncertainty is lurking around.
Mostly People don’t understand stock trade and IPO system so they give final comment like its gambering
How can I get marketing job in Searl? Plz guide