{"id":2328,"date":"2017-04-03T16:41:45","date_gmt":"2017-04-03T16:41:45","guid":{"rendered":"http:\/\/unifytrade.com\/dibbeta\/?p=2328"},"modified":"2017-04-03T16:41:45","modified_gmt":"2017-04-03T16:41:45","slug":"dib-pakistan-celebrates-overwhelming-public-response-for-roshan-packages-book-building","status":"publish","type":"post","link":"https:\/\/www.dibpak.com\/index.php\/2017\/04\/03\/dib-pakistan-celebrates-overwhelming-public-response-for-roshan-packages-book-building\/","title":{"rendered":"DIB Pakistan Celebrates Overwhelming Public Response for Roshan Packages\u2019 Book Building"},"content":{"rendered":"

PRESS RELEASE<\/span><\/p>\n

DUBAI ISLAMIC BANK PAKISTAN CELEBRATES OVERWHELMING PUBLIC RESPONSE FOR ROSHAN PACKAGES\u2019 BOOK BUILDING<\/p>\n

\n

Karachi, January 19, 2017:<\/strong> Dubai Islamic Bank Pakistan Limited (DIBPL) as the sole banker to the offer for the book-building portion of Roshan Packages Limited\u2019s Initial Public Offering celebrated the overwhelming response received in book-building with the top management of Roshan Packages Limited. The bidding process was held on the 17th and 18th of January 2017.<\/p>\n

Mr. Junaid Ahmed, CEO DIBPL & Mr. Tayyab Aijaz, CEO Roshan Packages celebrated the overwhelming public response from investors at an event held in Karachi. The book-building portion of Roshan Packages Limited\u2019s IPO resulted in a strike price of Rs. 86.25\/- per share against the base price of Rs. 35\/- per share, helping the Company raise Rupees 2.10 Billion from high net-worth investors. The book building portion of the issue was oversubscribed by 6.8 times.<\/p>\n

Roshan Packages, which is in the process of getting listed on the Pakistan Stock Exchange (PSX), would utilise the raised funds partly for expansion of its packaging business and partly for settling debt and meeting working capital needs.<\/p>\n

The company is selling a total of 32.5 million shares (75% to high net-worth investors and 25% to general public) in its initial public offering (IPO) to raise Rs2.8 billion.<\/p>\n

The offer of shares to the general public will be made on January 30-31 at the strike price of Rs. 86.25.\/- per share.<\/p>\n

About DIB Pakistan Limited<\/strong><\/p>\n

Dubai Islamic Bank Pakistan Limited (DIBPL) is a wholly-owned subsidiary of Dubai Islamic Bank (DIB), the world\u2019s first Islamic Bank. The parent company DIB is a listed company in Dubai, UAE. DIBPL commenced operations in Pakistan as a scheduled Islamic Commercial Bank on March 28, 2006. As a Minimum Capital Requirement (MCR) compliant Bank, the DIBPL enjoys a short-term credit rating of \u2018A-1\u2019 and long-term credit rating of \u2018A+\u2019 with a \u201cpositive\u201d outlook, from JCR-VIS, indicating the bank\u2019s robust position in the industry.<\/p>\n

DIBPL has always endeavored to provide innovative financial products and services to our customers through our growing network of over 243 locations (200 Branches and 43 Branchless Booths) across 62 cities in Pakistan. DIBPL continues to reaffirm its commitment of World Class Banking expertise with the largest Shari\u2019a compliant product suite in Retail, Corporate, Consumer, Trade, Commercial, Treasury and Investment Banking services across Pakistan<\/p>\n

About Roshan Packages Limited.<\/strong><\/p>\n

Roshan Packages Limited (\u201cRoshan Packages\u201d or the \u201cCompany\u201d) was established in 2002 to provide high quality packaging for Roshan Enterprises, the fruit export company of Roshan Group. Over the years, the Company has grown to one of the largest manufacturers and sellers of packaging products in Pakistan, meeting not only high quality packaging requirement for the exporters of fruit and vegetables, but also supplying packaging solutions to different large multinational and local corporations, nationwide.<\/p>\n

Roshan Packages operates through two major divisions, corrugated and flexible, and maintains two separate plants for each. The corrugated plant makes corrugated boxes i.e. cartons for transport of a variety of products whereas the flexible plant produces plastic wrappers for consumer products.<\/p>\n

In 2016, Roshan Packages entered into a joint venture with China-based Shandong Yongtai Paper Mill (\u201cShandong Yongtai\u201d), a subsidiary of Shandong Yulong Real Estate group (\u201cShandong Yulong\u201d), to establish Roshan Sun Tao Paper Mills (Private) Limited (\u201cRoshan Sun Tao\u201d or the \u201cProject\u201d) a state-of-the-art corrugated paper manufacturing facility. The Project is a subsidiary of Roshan Packages intended to serve the high quality paper requirements of the Company\u2019s corrugated division while also supplying its products to the rapidly growing paper and packaging industry of Pakistan.<\/p>\n","protected":false},"excerpt":{"rendered":"

PRESS RELEASE DUBAI ISLAMIC BANK PAKISTAN CELEBRATES OVERWHELMING PUBLIC RESPONSE FOR ROSHAN PACKAGES\u2019 BOOK BUILDING Karachi, January 19, 2017: Dubai Islamic Bank Pakistan Limited (DIBPL) as the sole banker to the offer for the book-building portion of Roshan Packages Limited\u2019s Initial Public Offering celebrated the overwhelming response received in book-building with the top management of … <\/p>\n

Continue reading “DIB Pakistan Celebrates Overwhelming Public Response for Roshan Packages\u2019 Book Building”<\/span><\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10,11],"tags":[],"_links":{"self":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/posts\/2328"}],"collection":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/comments?post=2328"}],"version-history":[{"count":0,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/posts\/2328\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/media?parent=2328"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/categories?post=2328"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.dibpak.com\/index.php\/wp-json\/wp\/v2\/tags?post=2328"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}