SOYASUP (APAG) IPO draws Rs2.56bn bids, strike price set at Rs33

Mettis Global reported that Agro Processors and Atmospheric Gases Limited (SOYASUP) fixed the strike price of its initial public offering at Rs33.00 per share. Bidding ran for two sessions, on August 27 and 28, 2026, according to a notice from K-Trade Securities Limited lodged with the PSX. Demand was heavy from the first day, when bids totalled 43.94 million shares, equal to 100.92% of the offer volume.

The largest concentration of demand on the first day came at Rs32.00 per share, with 30.56 million shares, or around 69.6% of cumulative bids. Smaller bids were also placed at Rs32.02, Rs34.00 and Rs35.20 per share. Total demand came to roughly Rs2.56 billion, while the issue was Rs1.40bn, producing an oversubscription of 1.84 times.

Among the 189 participants, 149 investors were declared successful and received 43,537,156 shares in total. Individuals took the largest allocation at 14,884,487 shares, followed by other institutions and corporates with 9,561,458. Development financial institutions received 8,175,000 shares, insurance companies 4,290,000 and mutual funds 3,376,188. An online awareness session open to the public is set for September 2, 2026, between 3:35 PM and 4:35 PM, with registration via a Zoom link.