PSX Holds Gong Ceremony on Listing of Octopus Digital Ltd.
Thursday, October 07, 2021, Karachi: A Gong Ceremony was held at Pakistan Stock Exchange (PSX) to celebrate the IPO of Octopus Digital Limited. BMA Capital was the Lead Manager and the Book Runner to the Issue. The company was listed on PSX on October 5, 2021.
Speaking about the success of the IPO and listing of Octopus Digital Ltd., the Chairman of the Company, Mr. Bakhtiar H. Wain, said, “I am truly overwhelmed at the response we’ve received. It certainly is an achievement, thanks to the efforts of BMA Capital, our Financial Advisor and the Octopus Digital Team. In addition, I would like to sincerely thank our customers and shareholders. It’s a brilliant start, and we will continue to set records and make history with our business results.”
Speaking on the occasion, the Chairman & CEO of BMA Capital Management Ltd., Mr. Moazzam M. Malik, stated, “BMA Capital is thrilled to bring Octopus Digital IPO to the Pakistan Stock Exchange (PSX). This is a
historic event for digital Pakistan and opens the gates wide open for tech companies to do exits on the PSX. Octopus listing broke all previous records and was oversubscribed by a record 27x receiving Rs. 30 billion ($175m approx). The public subscription portion was also the highest ever participation in any IPO in Pakistan’s capital market history.”
Mr. Farrukh H. Khan, Managing Director, Pakistan Stock Exchange, added, “It is an exciting development to welcome Octopus Digital to PSX. We hope that the success of this IPO will also encourage other IT companies to come forth and raise growth capital from PSX.” He further stated, “As a listed company, Octopus Digital Ltd. will benefit from raising capital & having a diversified domestic & foreign shareholder base, keen to invest in
The Octopus Digital IPO received a total participation of Rs 30.249 billion against the Issue of Rs 1.110 billion at strike price of Rs 40.60 per share, being oversubscribed by an overwhelming 27.24x. A record breaking 1,757
were successful in the book building process out of 1,821 bidders. The retail portion was also oversubscribed by 4.39x and attracted applications for 30,032,500 million shares against the Issue size of 6,837,500 million
Octopus Digital Limited raised these funds to develop and launch digital dashboard platforms for industrial & manufacturing industries. The funds were also raised to meet the Company’s HR cost of Marketing & Sales