Applications for 500 SPL shares considered eligible

Saif Power Limited (SPL) offered 12 million shares to general public on 11th and 12th November 2014. The number of applicants for 500 shares are less than the the total number of shares offered. THK Associates (the registrar) has issued a current statement for the Karachi Stock Exchange states that the public has submitted applications for 9.888 million shares under 500 share category. Thus all applicants...

SECP suspends KASB securities

Securities and Exchange Commission of Pakistan has suspended the trading facilities of KASB securities Limited. Earlier, KASB Bank was put on moratorium by State Bank of Pakistan. The suspension will be intact till further orders to the Karachi Stock Exchange. The letter was issued by Imran Iqbal Panjwani, Executive Director, of SECP in which he has asked the KSE to immediately suspend the KASB securities...

SAIF Power IPO on 11th and 12th November 2014

SAIF Power (SPL) has announced its first general public initial public offer from 11th to 12th November 2014 through nominated banks and brokers. The IPO can be subscribed through ABL, AKBL, BAFL, BoP, FABL, HBL, HMBL, SILK, SUMMIT and UBL. UBL also offers online subscription through its net banking. The company is offering 12.07 million shares through its IPO which is 25% of the offer.The company...

Engro Powergen Qadirpur (EPQL) Shares Balloting Result

Engro Powergen Qadirpur offered 40 million shares to the general public last month. The balloting result for successful applicants has been declared by the Share Registrar of EPQL i.e. Famco Limited. The shares were offered to all general public of Pakistan (Resident / Non Resident) at an offer price of Rs. 30.02. The response of public was over whelming and it has been over subscribed. According...

Karachi Stock Market crossed 30,000 points

The volumes was much impressive today as during the first two weeks of Ramazan, the volumes remained below 100 million shares. Today, KSE observed an unexpected volume of 152.93 million shares. The volume leaders was Fauji Cement whose price increased by 1.01 rupees with 5% upper cap. Besides FCCL, other scripts like KEL, LPCL, PIBTL performed well today. Four cement manufacturing companies in the...

Engro sends Islamic Sukkuk certificates to holders

Engro launched Engro Islamic Rupiya Sukuks on 9th June 2014 and has sent the certificates of sukkuks to the successful applicants. The sukkuk certificates have been sent through TCS. The sukkuk was issed for 3 and 5 years tenure. The profit for 3 year Islamic sukkuk has been set at 13% per year whose profit will be disbursed every six months. The profit for 5 year sukkuk is 0.5 higher than the 3 year...

HASCOL Balloting Result Announced

HASCOL Balloting Result has been announced and all applications of 500 shares are considered successful. HASCOL Petroleum’s balloting was done for 1000 shares. The IPO was over subscribed for 1.4 times. According to Business Recorder: The issue received applications for over 8.9 million shares against a total offer size of 6.25 million shares and was subscribed by 1.4 times. Due to the significant...

Pakistan Foreign Reserves to hit $16 billion – Sunrise Research

Pakistan Foreign Reserves are likely to cross $16 billion soon. State Bank has currently $10 billion. This research has been conducted by Sunrise Research. The World Bank in recent study analyses Pakistan’s medium-term outlook that presents moderate downside risks. The external environment is expected to starting improving gradually with global GDP growth rising from 3.2% in 2014 to 3.5 in 2016....

Hascol Petroleum, Do not subscribe in IPO – SCS Research

SCS Research claims that the strike price of HASCOL petroleum is not justifiable. They have the stance to not to but HASCOL Petroleum in IPO on 8-9th April 2014. By: Rajesh Kumar Maheshwari 111-111-721 Ext.116 Standard Capital Securities (Pvt) Ltd During book building process carried on March 4 and March 5, 2014 the under writer has issued 18.75 million shares at strike price of Rs 56.5/sh (inclusive...

HASCOL offers General Public IPO on 8th and 9th April 2014

HASCOL is going to offer 6.25 million shares to the General Public of Pakistan through IPO. The strike price per share is Rs. 56.50. HASCOL is involved in petroleum business and have more than 200 outlets in Pakistan. General Public Portion of the issue comprises of 6,250,000 ordinary shares (25% of the issue) at an issue price of pkr 56.50/- per share (inclusive of a premium of pkr 46.50/- per share).The...

Pakistani currency becomes stronger

Karachi (23rd March, 2014): During the last trading week, Pakistani currency showed strong come back. Pakistani Rupee became stronger when compared with 33 currencies. Dollar was eased by Rs. 1.35 and Kuwaiti Dinar was down by Rs. 4.73. State Bank said that Pakistani currency is becoming stronger with the passage of time. Only Brazilian currency showed an upward graph when compared with Pakistani rupee. ...