Description of Transaction:
- AHL acted as the Lead manager & book runner for Agha Steel Industries Limited and successfully completed the IPO by raising PKR 3,840 Million for the Company.
- Application for the total of 38,320,000 shares were recieved against the issue size of 30,000,000 ordinary shares
- Total amount raised through IPO was PKR 3,840 Million against the target amount of PKR 3,600 Milliom, the general portion was over subscribed by 1.28x
- Strike Price was PKR 32/share
About the Issuer:
- Agha Steel Industries Limited (“Agha Steel”, “ASIL” or “Company”) started its operations in 2012 and is a composite (steel melting and re-rolling) unit located at Port Qasim, Karachi
- The Company possesses state of the art steel-making technology; Pakistan’s first 40-ton first Electric Arc Furnace (“EAF”) along with the largest Eccentric Bottom Tapping (“EBT”) and energy efficient steel melting furnace in Pakistan
- EAF is considered energy efficient and is fully automated which leads to lower labour costs
- Agha Steel Industries Limited (ASIL) is the fully automatic leading Steel Re-Rolling Manufacturing Company in Pakistan with an annual capacity of 240,000 Metric Ton per annum.