March 07, 2022
A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to announce the listing of Adamjee Life Assurance Company Limited (ALACL) which was listed on PSX on March 4, 2022. This was an important event for PSX as it is the seventh equity listing on the Main Board of PSX and another step forward for the capital market of Pakistan in the current fiscal year 2021-22.
Distinguished guests were welcomed by Chairperson Pakistan Stock Exchange, Dr Shamshad Akhtar, and MD PSX, Mr. Farrukh H Khan, while present at the ceremony were PSX Board Members, Chairman of Nishat Group, Mian Muhammad Mansha; CEO ALACL, Mr. Umer Mansha, and senior management of ALACL. The CEO of Next Capital Limited (NCL) Mr. Najam Ali, and his team were also present at the occasion. Next Capital Limited was the Lead Manager to the Offer and the Book Runner.
The book building phase of the Offer attracted significant response from investors with the Offer being oversubscribed by 1.04x by value and 1.03x by volume or number of shares. The strike price being PKR 28/- per share.