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No—Rs. 3 billion was not the minimum an individual investor had to bid. In Fast Cables’ 2023 draft prospectus, that figure referred approximately to the total value of the proposed issue at its floor price; the stated minimum bid was PKR 1 million. The offer later changed and was completed in 2024, so the draft terms are historical, not an open IPO.
What did “25% of the company” mean?
Fast Cables’ 2023 draft prospectus proposed offering 83.5 million shares, equal to 25% of the company’s post-IPO paid-up capital. It set a floor price of PKR 36 per share and an upper book-building price bound of PKR 50.4. These were proposed terms in a draft, not the final offer. PSX’s draft prospectus.
Was Rs. 3 billion the minimum bid?
No. The approximately PKR 3 billion figure described the proposed total issue value at the PKR 36 floor price. The draft prospectus separately stated a minimum bid amount of PKR 1 million. In other words, the issue’s overall size and an individual bidder’s minimum were different figures. PSX’s draft prospectus.
How did the final IPO differ from the draft?
The completed 2024 offering changed both the share count and price. PSX records the final offer as 128 million shares, or 20.35% of post-IPO paid-up capital, at a PKR 23.5 floor price. Book building produced a strike price of PKR 24.45. The draft’s 83.5 million shares, 25% stake, and PKR 36 floor price should not be quoted as the final terms. PSX IPO listing record; PSX June 2024 press release.
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| Term | 2023 draft | Completed 2024 offer |
|---|---|---|
| Shares offered | 83.5 million | 128 million |
| Share of post-IPO paid-up capital | 25% | 20.35% |
| Price | PKR 36 floor; PKR 50.4 upper book-building bound | PKR 23.5 floor; PKR 24.45 strike price |
| Bid minimum | PKR 1 million | Not stated in the cited PSX final-offer summary |
| Dates and status | Proposed in the 2023 draft | Book building May 15–16, 2024; public subscription May 22–23, 2024; listed June 10, 2024 |
When did the offer take place, and was it oversubscribed?
Book building took place on May 15–16, 2024, followed by public subscription on May 22–23. PSX lists Fast Cables on June 10, 2024. The book-building portion was oversubscribed 1.57 times by value: applications totaled PKR 4,702 million against an issue size of PKR 3,008 million, and the strike price was PKR 24.45. These are results of the historical offering; oversubscription does not establish a share’s present valuation or predict future returns. PSX IPO listing record; PSX June 2024 press release.
What does Fast Cables do?
PSX describes Fast Cables Limited as a Pakistan-incorporated public company that manufactures and sells electric wires, cables, conductors, and LED lighting. Its PSX symbol is FCL. PSX company profile.
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What should investors check now?
The IPO is completed; the 2023 draft’s price and bid terms are not current buying terms. Anyone considering FCL shares should check dated market information and company disclosures rather than infer today’s value or likely returns from the IPO’s strike price or subscription demand.
PSX’s company profile displays a risk-warning alert referring to continuous regulatory violations and possible trading suspension or delisting. The profile passage does not identify the underlying violation or establish whether the alert has been resolved. Check the latest PSX notices and company disclosures for the specific status before relying on the warning as a description of current trading conditions. PSX company profile.
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Best Value
- 40 Gbps 2000 Mhz High Speed: The Cat 8 ethernet cable support max. 40 Gbps data transfer and 2000 MHz Brandwith, ideal for gaming and streaming, greatly improving upload and download speed, sound, image and resolution quality
- Excellent Anti-interference: The ethernet cable comes with 4 shielded foiled twisted pairs (F/FTP), pure copper core and gold-plated RJ45 connector, reducing interference, noise and crosstalk, making network speed faster and more stable
- Marvelous Durability: Internet cable wrapped with quality cotton braided cord, which makes the LAN cable stronger and more durable. The test proves that this internet cable can be bent at least 10000 times without broken, very suitable for long-term use
- PoE Supported: All lengths of ethernet cord can support the PoE power supply function except 65ft. You don't need additional power supply when installing a PoE camera, which is very convenient and safe
- Wide Compatibility: With the RJ45 Connector, network cable can be perfectly compatible with computers, laptops, modems, routers, PS5, X-Box and other networking devices. It can also be fully backward compatible with Cat7, Cat6e, Cat6, Cat5e, Cat5
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