KARACHI: The Securities and Exchange Commission of Pakistan (SECP) has extended the bookbuilding process of debut IPO of Pakistan stock exchange (PSX) by one day beyond the original deadline of June 7.
“All concerned are hereby informed that the Securities and Exchange Commission of Pakistan has allowed extension in time for the book building for offer for sale of shares of the Pakistan Stock Exchange Limited for one day i.e. upto Thursday, June 8, 2017,” the PSX said in a notice. “Accordingly the eligible investors can now register until 3:00 pm and can bid until 5:00 pm on Thursday, June 8, 2017.”
So far, the IPO of the country’s integrated bourse has received a very dismal response as bids for just over 45 percent of the offered shares were received in two days. Although, the exact number of bids could not be known, officials involved in the process said bids for approximately 77 million shares had…