SECP puts Khaadi IPO Prospectus under lens

Pakistan’s Securities and Exchange Commission has asked Khaadi to address several points in its draft IPO prospectus, Mettis Global reported on November 10. The questions include how the company classifies a Rs3,318 million property revaluation gain, which could affect whether its sole shareholder faces a two-year lock-in after the offering.

The regulator has also sought changes to how the prospectus presents the Rs12.40 floor price alongside the share’s Rs0.125 face value, as well as information on payments to group companies. Khaadi plans to issue 500 million new shares, targeting about Rs6.2 billion at the floor price; the article says exchanges between the company, its consultant and SECP are continuing, with no listing decision reported.