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ABHI raises Rs2.046bn through IPO at Rs15.50/share
ABHI Microfinance Bank Limited’s (ABHI) stocks were priced at Rs15.50 per share, helping the bank to raise a total of Rs2.046 billion through initial public offering (IPO) at the Pakistan Stock Exchange (PSX). The microfinance bank’s share price increased by 3.33% to the final strike price of Rs15.5 at the completion of two-day Dutch bidding (book building) on Friday from the opening (floor) price of Rs15 per share, according to PSX bidding screen and ABHI prospectus. In phase one of the IPO, the bank sold 99 million shares at the strike price of Rs15.50 per share to corporate, institutional, ...
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