Pakistan Company News – IPO of Orient Rental Modaraba of Arif Habib Limited

IPO of Orient Rental Modaraba of Arif Habib Limited

Karachi, Arif Habib Limited informed Pakistan Stock Exchange that there is a slight change in the public subscription results of Orient Rental Modaraba as reported by the share registrar, the Central Depository Company of Pakistan Limited (“CDC”) vide their letter dated November 07, 2017. According to the revised letter, the bankers to the issue received application for a total of 55,974,000 Modaraba Certificates against an issue size of 40,000,000 Modaraba Certificates (Issue size is inclusive of a green-shoe option of 25,000,000 Modaraba Certificates).

Arif Habib Limited is a public listed company incorporated in Pakistan under the Companies Ordinance, 1984. It was initially incorporated as an unquoted public limited company wholly owned by Arif Habib Corporation Limited. The company is engaged in providing brokerage and corporate finance services to a large number of institutional, corporate, high net worth individuals and retail clients. The shares are quoted on Karachi and Lahore Stock Exchanges of Pakistan. The registered office of the company is situated at Karachi.

The parent company holds 69% shares of the company and offered its 25% share holding in the company to general public and obtained listing on the Karachi Stock Exchange Limited on January 31, 2007. The company is holder of Trading Right Entitlement Certificate of Karachi, Lahore and Islamabad Stock Exchanges. The principal activities of the company are Investments in a mix of listed and unlisted equity and debt securities and reverse repurchase transactions, share brokerage, interbank brokerage, initial public offer underwriting, advisory and consultancy services.

The symbol “AHL” is being used by the stock exchanges for the shares of Arif Habib Limited.