Fast Cables Limited Announces IPO with AKD Securities as Lead Manager

Karachi, Fast Cables Limited (FCL), a leading manufacturer of electrical cables and conductors in Pakistan, has announced its upcoming Initial Public Offering (IPO). AKD Securities Limited will serve as the Lead Manager and Book Runner for the transaction, set to commence with a book-building phase next week.

According to AKD Securities Limited, the registration for interested investors will open on May 13, 2024, and close on May 16, 2024. The bidding will occur over the last two days of the registration period. Detailed information about the IPO, including the prospectus and related forms, is available on AKD Securities’ website.

Fast Cables Limited boasts over four decades of industry experience and a diverse portfolio, including more than 6000 SKUs of low to medium voltage cables and various conductor types. The company's production facilities feature advanced technologies such as Catenary Continuous Vulcanization and an Aluminum Alloy plant, enhancing product longevity and reliability.

The IPO aims to support FCL's market expansion and finance further capital expenditures by offering 128,000,000 ordinary shares at a floor price of PKR 23.50 per share, totaling PKR 3,008 million. The company's performance indicators, such as a trailing twelve-month earnings per share of PKR 3.74 and a book value per share of PKR 16.93 as of December 31, 2023, underline its robust financial standing and market competitiveness.