Luminex IPO oversubscribed

Friday, 3 June 2022 00:23 - - {{hitsCtrl.values.hits}}

The Initial Public Offering (IPO) of Luminex Ltd., through an offer for subscription of 31,250,000 shares at a price of Rs. 8 per share to raise Rs. 250 million, has been fully subscribed.

The issue closed yesterday ahead of the deadline of 7 June.

The company’s IPO involves 11.52% stake and opened on 19 May.

Established over three decades ago Luminex is a leading engineering company and market leader in telecom infrastructure engineering and is also involved in electrical, civil and water projects as well.

Funds raised from the IPO will be utilised to enhance the working capital to scale up by consolidating local operations. Navara Capital Ltd. was the financial advisor and issue manager.