APAG IPO fully subscribed on first day

Mettis Global reported that the initial public offering of Agro Processors & Atmospheric Gases Limited (APAG) was fully subscribed on its opening day. According to the latest book-building figures from the PSX, cumulative bids totalled 43.94 million shares, equal to 100.92% of the total offer volume. The response points to keen investor appetite for the company's public offering.

The highest demand was at Rs32.00 per share, where bids totalled 30.56 million shares, or roughly 69.6% of cumulative bids. Further bids came in at Rs32.02 for 4.0 million shares and Rs34.00 for 1.24 million shares. Smaller orders were placed at Rs35.00 for 114,286 shares and Rs35.20 for 7.95 million shares, showing participation across several price levels.

The offer has already crossed the required subscription level. Market participants will now keep a close eye on the remaining book-building and the final price set at its conclusion.