Barkat Frisian Agro Limited (BFAL) has announced a PKR 880.5 million ($3.1 million) Initial Public Offering (IPO) as the company plans to expand pasteurized egg product output by 70% to 29,000 metric tons. Arif Habib Limited (AHL) has been appointed by BFAL as the lead manager and book runner for raising funds through an offering. The proceeds…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
Over the past decade, net FDI in Pakistan averaged $2 billion annually
While Foreign Direct Investment (FDI) has been seen as a key driver of economic growth, infrastructure development, and job creation, the Pakistan Business Council (PBC) has criticized Pakistan’s approach as unfocused and overly reliant on FDI aimed at exploiting local markets rather than enhancing exports. Historically, Pakistan has attracted market-seeking FDI, primarily serving its domestic…
Pakistan lifts minimum export price on rice amid global market shifts
Pakistan has removed the minimum export price (MEP) on all rice varieties. This decision follows India’s recent move to lift its MEP on rice, signaling a potential shift in the global rice market dynamics. The removal of the MEP is expected to sustain the volumetric growth of Pakistan’s rice exports into FY25, although earnings from…
GNEXT appoints Air Link as premium partner to expand Apple products availability in Pakistan
KARACHI: GNEXT, the Apple Authorized Distributor for Pakistan, has announced the appointment of Air Link Communication Limited as its Premium Partner. This strategic collaboration aims to significantly enhance the availability of Apple products across the country, providing customers with greater access to the latest innovations through a structured retail channel. Shahid Khan, CEO of GNEXT…
Symmetry Group launches Vidfy, a new Al-powered platform for video messages
KARACHI, PAKISTAN: Symmetry Group Limited has announced the launch of Vidfy, a new Al-powered platform, developed in-house, that specializes in creating tailored video messages that empower businesses, brands, content creators and influencers to engage diverse audiences effectively. This launch marks a significant step in leveraging Al-driven solutions to shape the future of personalized digital communication….
Insurance companies, CDC to establish Pakistan’s first Auto Insurance Repository
KARACHI, PAKISTAN: Leading insurance companies have signed an MoU with the Central Depository Company of Pakistan (CDC) for the establishment of Pakistan’s first centralized auto insurance repository. The CDC will provide the technological support for the creation of an automated repository under the regulatory guidance of the Securities and Exchange Commission of Pakistan (SECP). The…
Competition watchdog okays merger of Wall Street Exchange and UBL Currency Exchange
(CCP) has greenlit a merger of Wall Street Exchange Company (WSE) by UBL Currency Exchange (UCE) pursuant to Letter of Intent (LOI) and later through Asset Purchase Arrangement (APA).
Pakistan Stock Exchange suggests tax reforms, comprehensive documentation of all economic activities
KARACHI: Pakistan Stock Exchange (PSX) has submitted a series of important tax proposals to the Ministry of Finance (MoF) and the Federal Board of Revenue (FBR) for consideration in the federal budget for the fiscal year 2024-25. The measures recommended are revenue positive and will encourage resource allocation towards productive and documented sectors of the…
Arif Habib Limited announces IPO for International Packaging Films Limited
KARACHI: In a significant development for Pakistan’s packaging industry, Arif Habib Limited has announced the launch of an Initial Public Offering (IPO) for International Packaging Films Limited (IPAK). The Book Building dates are 8th & 9th May, while Registration Dates are 6th- 9th May, 2024. The IPO will see International Packaging Films Limited (IPAK) offering…
Pakistan’s Competition Watchdog objects to Telenor’s acquisition by PTCL
ISLAMABAD: An investigation by the Competition Commission of Pakistan (CCP) has provisionally concluded that M/s. Pakistan Telecommunication Company Limited’s (PTCL) proposed acquisition of M/s. Telenor Pakistan (Private) Limited (TP) and Orion Towers Private Limited (OT) could lead to a substantial lessening of competition in the telecommunication industry. PTCL is a public-listed company and specializes in…
Attock Petroleum Profitability arrives at PKR 86.65/share in 9MFY24
Attock Petroleum Limited (APL) announced the financial result for 9MFY24, whereby the company has posted a net profit of PKR 10,780mn (EPS: PKR 86.65) against PKR 9,836mn (EPS: PKR 79.06) in 9MFY23, up by 10% YoY. During 3QFY24, the bottom-line settled at PKR 2,981mn (EPS: PKR 23.96), down by 31% YoY. Result Highlights AHL Pakistan…
Pakistan Oilfields Limited earnings settled at PKR 105.47/share in 9MFY24
Pakistan Oilfields Limited (POL) announced its financial result today, posting a profit after tax of PKR 29,939mn (EPS: PKR 105.47) during 9MFY24 compared to PKR 30,588mn (EPS: PKR 107.76) in 9MFY23, down by 2% YoY. On a quarterly basis, net profit during 3QFY24 arrived at PKR 12,361mn (EPS: PKR 43.54), down by 24% YoY. Result…