Pakistan Aluminium Beverage Cans Ltd has become the second-largest private offering in Pakistan after it attracted an oversubscription of 3.3 times during the book-building phase of Initial Public Offering. The institutional investors and high-net worth individuals invested in the IPO as the strike price clocked in at Rs49 per share, 40% higher than the floor price of Rs35. PABC has raised Rs 4.6 billion in total, making it the second-largest IPO in the private sector. “The response to the book building has been phenomenal,” said Shahid Habib, the CEO of Arif Habib Ltd and advisor and book-runner of the IPO. The investors demand amounted to Rs10.8 billion against the IPO’s bo
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