Karachi: The Securities and Exchange Commission of Pakistan and Pakistan Stock Exchange Limited have given their approval for the issuance and publication of the Offer for Sale Document for Naya Nazimabad Apartment REIT, as reported on August 25, 2026. This marks a significant step as 44,062,500 units of Naya Nazimabad Apartment REIT are set to be offered through the Book Building method.

According to the Offer for Sale Document, 75% of the total issue size, equating to 33,046,875 units, will be made available through the Book Building process at a floor price of PKR 18 per unit. The maximum price band has been set at PKR 23 per unit, representing a very large or significant move of 27.77%.

The Pakistan Stock Exchange has provided its consent for the dates related to the publication of the Offer for Sale Document, Book Building, and Public Subscription. According to information available from the Pakistan Stock Exchange (PSX), all Eligible Participants, as defined under the Public Offering Regulations, 2017, are invited to partake in the Book Building process. This requires a one-time registration with PSX, except for those who are already registered.

Eligible Participants who are Clearing Members of the National Clearing Company of Pakistan Limited must submit necessary details to PSX via email. Additionally, they are required to express their interest by registering with the NCCPL through email, accompanied by the submission of margins in compliance with the Public Offering Regulations.

The registration and Book Building timeline has been carefully laid out. The registration of Eligible Participants with PSX is scheduled from August 27, 2026, to September 2, 2026. The expression of interest by Eligible Participants to NCCPL will occur concurrently. Bidding will take place on September 1 and 2, 2026, with specific timings allocated for each activity.

The NCSS Designated Time Schedule for Book Building specifies the collection of margin money from August 27 to September 2, 2026, with final collections and refunds taking place on September 3, 2026. The Pakistan Stock Exchange and NCCPL have issued a Joint Procedure and a User Manual for the Book Building System, accessible through their respective links.

This initiative in the designated market category underscores the strategic planning and regulatory compliance involved in the offering, paving the way for a structured and transparent Book Building process.