The country’s largest power-cable manufacturer is set to conduct book building on May 15 and 16, according to Managing Director Kamal Mahmood Amjad Mian.
Fast Cables plans to issue 128 million shares at a floor price of Rs. 23.5 each, with book building preceding a general public offering. Notably, the company is Shariah-compliant and has a track record of dividend payouts.
Established in the 1980s by Mian’s family, the company strategically focused on the power infrastructure sector, which has demonstrated resilience to economic fluctuations. It has achieved an impressive average annual growth rate of nearly 50 percent over the last five years. Now, aiming to triple its revenue to around Rs. 100 billion by 2030.
The Pakistan Stock Exchange has experienced a remarkable surge of 74 percent over the past year, prompting a revival in share sales, with three companies currently in the process of listing on the main bourse.
Investor confidence has been bolstered by recent elections and smooth negotiations with the International Monetary Fund for loans, signaling a turnaround for a nation that faced bankruptcy last summer.
