ABHI Microfinance Bank targets Rs3bn through PSX IPO

ABHI Microfinance Bank plans to raise up to Rs3 billion in a PSX IPO, offering 132 million ordinary shares at a floor price of Rs15 each, Mettis Global reported. Book-building for 99 million shares is set for November 5 and 6, with public subscriptions scheduled for November 12 and 13. The book-building price can rise by as much as 50%, to Rs22.50 per share.

At the floor price, the offer would generate gross proceeds of Rs1.98 billion, mainly for lending growth and capital support. The bank projects 2026 profit of Rs2.927 billion and says its capital adequacy ratio could reach 4.3% by year-end, then rise to 17.8% by the end of 2027, above the SBP minimum of 15%. Dawood Equities is among the underwriters, while TPL Corp owns 26.27% of the bank.