General Public Portion of Loads Limited IPO Oversubscribed
Karachi: The General Public Portion (Initial Public Offer) of Loads Limited is oversubscribed by 335,500 shares. There will be no balloting of shares for IPO applicants as per information shared by Arif habib Limited among the investors and on Pakistan Stock Exchange portal.
Highest number of applications were received for allotment of 500 shares of Loads Limited during the two day offer through bankers. The IPO statistics reveal that 6,826 applications were received for allotment of 500 shares.
1,443 applicants applied for allotment of 1,000 shares and lowest number (Only 50) were submitted by interested people for 1,500 shares while 93 people applied for 2,000 shares.
The number of applications for 500, 1,000, 1,500 and 2,000 are notified successful before balloting.
However, the applicants above 2,00 shares will be given shares of the company on pro rata basis and the percentage for allotment to such applicants will be 96.50%.
The total number of applicants stood at 8,547 of which highest number of applications were submitted in Habib Metropolitan Bank Limited.
The trading of Loads Limited will start in last week of October, 2016.