SE Fruits IPO opens public subscription at PKR 40 per share

SE Fruits and Vegetable Limited opened public subscription for its initial public offering on Monday, offering 7.5 million shares to the general public at PKR 40 each after the book-building portion was oversubscribed 1.6 times.

How can investors apply for the SE Fruits IPO?

Public subscription runs through September 29. Investors can apply for a minimum of 500 shares, requiring PKR 20,000, and may apply for additional shares in multiples of 500. Applications must be submitted electronically, as physical submissions at bank branches are no longer permitted.

Investors can apply through the available electronic IPO platforms or participating banks’ digital channels, subject to the facilities offered by their bank.

The prospectus says retail applications can be submitted electronically through PSX’s e-IPO system or CDC’s Centralized e-IPO System. Physical applications have been discontinued under the Public Offering Regulations.

How large is the SE Fruits IPO?

The IPO comprises 30 million ordinary shares, representing about 32.01% of SE Fruits and Vegetable Limited’s post-IPO paid-up capital.

Of the total issue, 22.5 million shares, or 75%, were allocated to the book-building portion, while 7.5 million shares, or 25%, are being offered to the general public.

At the PKR 40 strike price, the total issue is valued at PKR 1.2 billion. The book-building portion was oversubscribed 1.6 times.

SE Fruits and Vegetable Limited is an export-oriented, Shariah-compliant company engaged in the export of kinnow, mangoes and potatoes.