Rs. 425.4 m Asia Asset Finance IPO crosses halfway mark

The Rs. 425.4 million worth Initial Public Offering (IPO) of Asia Asset Finance Ltd. has netted Rs. 260 million so far, the company disclosed yesterday.

The subscribed figure amounts to 55.2% of the issue. The IPO was for 120 million shares, with the option being reserved with the Board to accept a further 50.16 million shares at a price of Rs. 2.50 each.

The IPO, which officially opened on 28 November, had so far drawn 782 applications (via bank drafts and cheques) requesting for 94.05 million shares worth Rs. 235.1 million and one application via bank guarantee requesting for 10,000 shares worth Rs. 25,000.