June 28, 2021: The general public will subscribe to 23.4 million shares, 25 percent of the total offer size of PABC IPO on June 29/30 at the strike price of Rs49.
The general public can subscribe to the IPO on 29th and 30th June from 9 am to 5 pm during banking hours. However, in the case of e-IPO, the process continues for 24 hours.
The book-building phase of Pakistan Aluminium Beverage Cans Ltd (PABC) concluded last week with an oversubscription of 3.3 times and the highest ever record-breaking participation of Rs. 10.8 billion by investors making PABC the largest IPO after interloop from the private sector.
The IPO received an overwhelming response from institutional investors and high net-worth individuals as the strike price clocked in at Rs 49/share, 40% higher than the floor price of Rs 35 and raised 4.6 billion.
PABC supplies beverage Can to the bottlers of all major carbonated drinks, including PepsiCo and Coca-Cola, in both Pakistan and Afghanistan. Exports to Afghanistan constituted 35 percent of the company's sales in the calendar year 2020.
Established on a 20.9-acre piece of land in Faisalabad's Special Economic Zone with a current rated capacity of 700 million cans per annum, PABC continues to enjoy a 10-year tax holiday. The company is increasing its rated capacity by almost 36 percent to 950 million cans per annum by July next year.
The company has grown its revenue at an annualized rate of 18.7 percent in the last five years. In the third full year of its operation (2020), the company's net profit amounted to Rs 610.7 million, up 314 percent from 2019. It expects its bottom line to grow at 140 percent in 2021.
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