Book-Building Begins for SE Fruits and Vegetable IPO
The two-day book building process for the Initial Public Offering of SE Fruits and Vegetable Limited began Monday, giving investors … Read More The post Book-Building Begins for SE Fruits and Vegetable IPO appeared first on ProPakistani .
The Initial Public Offering (IPO) of SE Fruits and Vegetable Limited commenced on Monday, beginning a two-day book building process. This export-oriented, Shariah-compliant company seeks to offer 30 million ordinary shares, which constitute 32.01 percent of its post-IPO paid-up capital. The shares will be priced at a minimum of Rs.
40 per share, with the potential to increase by up to 60 percent, reaching a maximum of Rs. 64 per share. Upon reaching the floor price, the IPO is anticipated to raise Rs. 1.20 billion; however, if the strike price attains the upper limit, the company could generate up to Rs. 1.92 billion. Of the total shares, 22.5 million, or 75 percent, are being allocated to institutional and high-net-worth investors through book building, while the remaining 7.5 million, representing 25 percent, will be made available to the general public on September 28 and 29.
Joint lead managers for the issue are Topline Securities Limited and Growth Securities Limited. The funds raised from the IPO will primarily be utilized to bolster the company's working capital, enabling increased seasonal procurement, expansion of processing capacity, and fulfillment of growing international demand. SE Fruits and Vegetable Limited, headquartered in Sargodha and formerly recognized as Shaheen Enterprises, has over three decades of operating experience.
The company exports various agricultural produce, such as kinnow, mangoes, and potatoes, to more than 22 countries.
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