SECP approves Agro Processors IPO for PSX listing

Mettis Global reported that the Securities and Exchange Commission of Pakistan has greenlit the IPO of Agro Processors & Atmospheric Gases Limited, clearing the way for its listing on the Pakistan Stock Exchange. The float comprises 58,049,541 shares, equal to 15% of the paid-up capital after the issue, and will be sold through book-building.

Its output ranges from edible oils and vanaspati to margarine, spices, sauces and industrial fats. Of the shares, 75% is earmarked for institutional and high-net-worth investors, and the remaining 25% is set aside for retail buyers.

The regulator has urged prospective investors to read the prospectus carefully, giving particular weight to its risk factors, before committing any money. This approval is a formal step toward a PSX listing for the company.