Arif Habib Ltd. public offering over-subscribed by 264 percent
December 31, 2006Draw for allocation of shares of Arif Habib Limited (AHL) to the general public was held at a local hotel on Saturday. This became necessary due to the overwhelming response and over-subscription to the Offer for Sale of 5 million shares–out of a total 20 million shares–by AHL’s holding company, Arif Habib Securities Limited (AHSL)The offer price was Rs 100 per share, including a premium of Rs 90 per share. Accordingly, the total amount offered for subscription was Rs 500 million. Against this offer, valid applications of over Rs 1.32 billion were received, representing 264 percent over-subscription. Given the subscription pattern, only the applications for minimum subscription (500 shares)… Business Recorder
