Panther Tyres Limited attracted more than Rs 2.632 billion in book building, making it the largest book building event in the world.
The application form was received four and a half times oversubscribed, with the price closing at Rs 60.80 per share; an improvement of 40 percent from the floor price of Rs 47.0 per share. The overall demand is Rs 8.215 billion and the issue size is Rs 1.880 billion; the issue is over subscribed by a little over Rs 6.335 million. This company has the position of lead manager and book runner in an IPO.
A Pakistani company, founded in 1983, by Mian Iftikhar Ahmed, was the first to manufacture tyres locally in Pakistan.