Engro Foods Ltd. offers 27 million shares to public at Rs. 25 per share

Karachi: Engro Foods Limited is offering 27 million shares to the general public at Rs 25 per share, with a share subscription lasting three days between July 5 and 7, said a press release issued Tuesday.

This comes after the successful private placement of 48 million shares to foreign mutual funds and local institutions at the same share price.

Investors can subscribe to a minimum of 500 shares, with there being no limit to the maximum number of shares. Engro Foods’ shares will be listed on Karachi and Lahore Stock Exchanges. Financial advisors and lead managers to this offer are United Bank Limited and National Bank Limited.

In 2010, Engro Foods reported a turnover of Rs 21 billion, a 43% growth over 2009, with a profit after tax of Rs 177 million. The company’s sales for the first quarter of 2011 grew 34% growth over 2010, with a total value of Rs.6.4 billion.

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