Pakistan: Amreli Steel IPO Oversubscribed – OpEd
There is good news for those who applied for Amreli Steel shares!
Amreli Steel offered its 18.7 million shares to general public for subscription through initial public offering (IPO). The issue attracted total 34,123 applications for 36.8 million shares amounting to Rs1,876.8 million.
The issue was 1.96 times oversubscribed. The highest number of 31,316 applications was for 500 shares, followed by 2,311 applications for 1000 shares.
Keeping in view the past practice it is believed that all the applicants of 500 and 1000 shares will be declared successful because the total number of shares applied for by these two categories is still less than 18.7 million shares.