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2-DAY BOOK BUILDING: HI-TECH LUBRICANTS OVERSUBSCRIBED.

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The book building of the Hi-Tech Lubricants Limited has been over-subscribed by 2.24 times after the two-day book building process. The shares were offered at a base price of Rs 37 per share but following significantly high demand during the book building process, the closing strike price of the share stayed at Rs 62.50. The book-building process was only available for bidding from the corporate entities and high net worth individuals (HNWI). As a result of the steep demand of the company's share, the company was able to raise Rs 1.35 billion from the book building process in which 75 percent or 21.75 million out of the company's offered shares of 29 million were made available for bidding in the market.

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Publication:Pakistan & Gulf Economist
Date:Jan 17, 2016
Words:126
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