KARACHI: The Pakistan bourse is likely to attract huge investments, as the KSE-100 is expected to reach 55,000 points by December 2022, a research report by Arif Habib Limited (AHL) showed.
“A total of eight equity IPO [initial public offerings] transactions were witnessed in 2021 aided by a stark turnaround in the economy post Covid-19. Total transactions include six new listings (Panther Tyres, Service Global Footwear, Citi Pharma Limited, Pakistan Aluminum Beverage Cans Limited, Air Link, and Octopus Digital Limited),” the report showed.
“Two new GEM [Growth Enterprise Market] board items (Universal Network Systems Limited and Pak Agro Packaging Limited). All these companies listed on the Pakistan Stock Exchange managed to raise equity worth of Rs19.92 billion in 2021.”
Commenting on the IPO transactions, AHL chief executive officer, Shahid Ali Habib said, “We may struggle in the first two months of the year 2022 due to the hiked interest rate, but still expect eight news IPOs transactions in 2022 with expected capital raising of Rs14-$15 billion, while many IPOs are in the pipeline.”
“We expect an increased listing activity at the GEM board, as many tech IPOs are coming to the board. There will be one IPO from the textile sector, one from pharmaceuticals, automobile assemblers and one from the construction sector, which will be the first of its kind,” Habib added.
AHL head of research, Tahir Abbas said that the higher economic growth, policy settings normalisation,...
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