Sign in Join Us

Investigative Reports

KARACHI – Significant developments were made during the interrogation of Lyari gangwar head Uzair Baloch Thursday. Baloch revealed the names of 10 key operatives of Lyari gangwar’s women wing.

February 28, 2017
Share |
print email

Roshan Packages: New kid on the block fetches a whopping Rs. 86.25 apiece

KARACHI: Roshan Packages Limited (RPL) fetched Rs. 86.25 apiece in its initial public offering (IPO) at Pakistan Stock Exchange (PSX), higher than the market's expected intrinsic value range of Rs. 45-55 per share and significantly above the Rs. 35-per-share floor price, which comprises premium worth Rs. 25 per share.

At the stock exchange, Roshan Packages CEO Tayyab Aijaz Qureshi rang the traditional opening bell to commencing trading.

The company offered 32.5 million shares when its stock started trading on Tuesday. It has raised Rs.2.80 billion for expansion, working capital, and debt repayment.

In this regard, Qureshi said, "There is not a single complete packaging company in Pakistan, whereas with growing [economy's demand] for packaging material is surging."

The intrinsic value, as calculated by independent research analysts, was around Rs.50, which is why it was understood to be an expensive offering. This is also perhaps the reason why RPL shares dropped 5% during the opening hour.

According to a broker, who wishes to remain unnamed, it was an expensive offering for investors. He added that the company should have offered it at a discount.

"If [such type] of IPOs continue, investors would lose their interest in IPO market."

Nevertheless, the first listing of 2017 went well for the company raising capital.

Top Story

LAHORE – Pakistan Test skipper Misbah-ul-Haq has on Thursday announced his retirement from Test cricket.


Are you Satisfied with PMLN GOVT performance at federal level?




Debt Clock Pakistan

Foreign Debt:

Local Debt:

Per Person Debt :

Subscribe Newsletter

Blog Entries


Nelson Mandela: The man once branded a 'terrorist' by the US

December 06, 2013- The anti-apartheid icon Nelson Mandela was incarcerated for 27 years.


Sardar Farooq Ahmad Khan Leghari

October 20, 2014- Former President of Pakistan Ex-MNA fron NA-172 D.G.Khan-II Pakistan Muslim League