Karachi: Arif Habib Limited has announced the successful completion of the Offer for Sale (OFS) of Naya Nazimabad Apartment REIT (NNAR), which concluded with significant investor interest. The strike price was set at PKR 23.00 per share following a Book Building process conducted on September 1st and 2nd, 2026.

The participation in the OFS reached a total of PKR 4,551 million, substantially exceeding the issue size of PKR 595 million. This oversubscription by approximately eight times underscores the high demand for NNAR shares. According to information available from the Pakistan Stock Exchange (PSX), 292 investors were involved in the Book Building process, with 249 ultimately securing shares.

The allocation of shares among the successful investors was as follows: Commercial Banks received 646,307 shares, Mutual Funds were allocated 9,158,675 shares, Insurance Companies obtained 1,111,787 shares, and Employees' Provident/Pension Funds acquired 667,434 shares. Additionally, TREC Holders were allocated 3,271,917 shares, Other Institutions/Corporates received 3,290,659 shares, and High Net Worth Individuals were allocated the largest portion with 14,900,096 shares. In total, 33,046,875 shares were distributed among these categories.

This offering highlights the strong interest in real estate investment trusts within the market, as evidenced by the significant oversubscription and the diverse participation from institutional and high net worth investors.