Karachi: Adal Fintech Limited has taken a significant step towards its listing on the Pakistan Stock Exchange (PSX) by submitting a draft prospectus for public comment. This initiative marks the company's intent to go public with an Initial Public Offering (IPO) that comprises 50,160,003 ordinary shares, each with a par value of PKR 1, using the Book Building Method at a floor price of PKR 8.75 per share. Arif Habib Limited is serving as the Lead Manager for this issue.

The draft prospectus has been made available in accordance with Clause 3A.(2) of the Public Offering Regulations, 2017. Stakeholders and potential investors are encouraged to review the details of the IPO on the PSX website, where it is prominently displayed under the section titled "Public Comments on Draft Prospectus of Adal Fintech Limited."

According to information available from the Pakistan Stock Exchange (PSX), this public engagement aims to ensure transparency and gather input from the community before the IPO proceeds further. The issue offers a price band with a maximum increase of 48.57%, setting a cap price at PKR 13 per share.

Arif Habib Limited has also underwritten the retail portion of the issue, covering 12,540,001 shares with an underwriting amount of 109.73 million PKR at the floor price and 163.02 million PKR at the cap price. The underwriting fee, along with a take-up commission, has been set at 1%.

The Supplement to the Prospectus, published in line with The Public Offering Regulations, 2017, continues to provide essential details of the offering. The public is encouraged to review these documents to gain a comprehensive understanding of the IPO structure and terms.

The successful listing of Adal Fintech Limited is poised to contribute to the financial technology sector, categorized under the designated market category of financial services. The company is seeking to leverage the capital market to fuel its growth and expansion plans.