Initial Public Offering of Mughal Manufacturing Modaraba deferred

AKD Securities has informed that keeping in view the current market condition and looming political uncertainty, the management of Mughal Manufacturing Modaraba has decided to defer its Initial Public Offering (IPO) scheduled for subscription on 11th and 12th July 2018. Mughal Manufacturing Modaraba is a multi-purpose and perpetual Modaraba. It announced to issue of 10 million Modaraba Certificates at par value of PKR 10 each through (IPO). The total fund size of Modaraba is PKR 250 million of which the sponsors have already subscribed PKR 150 million and remaining PKR 100 million is being offered to general public via IPO. Pakistan’s leading brokerage house, AKD Securities Limited was assigned mandate to act as Consultant to IPO.

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