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Sigma's public subscription rises by 330 pc

RECORDER REPORT

KARACHI: The public subscription in Sigma Leasing recorded a rise of 330 percent as it received Rs 66.080 million against the Rs 20 million offere.

The company has decided to avail of the green shoe option and Rs 10 million or 10 percent of total issue in addition to the general public offer of Rs 20 million would be retained.

The allotment of the terms finance certificates (TFC) of the value of Rs 30 million would be made to the general public on the basis of allotment published in the prospectus.

"All applications would be accommodated initially for a maximum allotment of TFCs of aggregate face value of Rs 5,000," the company said. The TFCs left un-subscribed after allotment being made thus would be allotted on a pro-rata basis to those who applied for TFCs exceeding the aggregate face value of Rs 5,000, the company added.

The aggregate amount of Rs 80 million offered to institutional investors as published in the prospectus has been fully subscribed.

It is claimed that Sigma Leasing TFC is the only issue in the last couple of years which was subscribed so heavily.