The Securities and Exchange Commission of Pakistan (SECP) has approved the application of M/s Organic Meat Company Limited to issue, circulate and publish the prospectus for initial public offering (IPO) of the company’s shares in the stock exchange.
According to a report by a local media outlet, the company will have 60 days to publish the details of proposed offering in the prospectus and offers its shares to the public from the date of approval.
The company intends to raise Rs. 720 million at floor price of Rs. 18 per share through the IPO. This will be the first IPO of 2020 and will be the second meat company to enter the stock market as Al Shaheer Corporation was listed in June 2015.
According to the initial draft issued by the company to PSX, the entire issue of 40,000,000 ordinary shares will be offered through the book-building process at a floor price of PKR 18.00/- per share (including a premium of PKR 8.00/- per share) with a maximum price band of up to 40%.
Initially, 7..
Category: SECP
Xiaomi Launches Affordable Smart ACs
Beyond Smartphones, Xiaomi has built a complete ecosystem of its own. Joining its vast collection of smart TVs, refrigerators, and air conditioners is a freshly launched Gentle Breeze Air Conditioner. As the name suggests, the Air conditioner simulates the gentle air breeze for broader coverage of the air outflow.
Unlike the traditional air conditioners that throw an ice-cold gust in one direction, this AC by Xiaomi is designed to produce a gentle soft breeze that makes it much more comfortable to sit around. According to the company, the air conditioner is designed to imitate a gentle breeze in the countryside. This will reduce the temperature variance as well.
Design and Construction The product has a typical Xiaomi minimalistic design. It comes with 1120 air outlet micro holes for providing three-dimensional air supply at a wider angle. Under the hood, it features two 98mm super large cross-flow fans.
The AC is available in two models: 1 ton and 1.5 ton. The 1-ton variant provide..
Coronavirus Cases in Pakistan Could Cross 200,000 by Mid-July: WHO
The World Health Organization (WHO) has warned that Coronavirus cases in Pakistan could go past the estimated 200,000 by mid-July in the absence of effective interventions.
Addressing the launch of the Pakistan National Strategic Preparedness and Response Plan in a virtual conference, Director-General WHO, Dr. Tedros Adhanom, said that Pakistan’s COVID-19 Response Plan is in line with the WHO’s global Response Plan.
Pakistan’s Response Plan is a joint strategy of the Pakistani government, the UN and its partners. It is aligned with the WHO’s global Strategic Preparedness and Response Plan, UN SDGs, and Pakistan’s National Action Plan.
Coronavirus, which has spread through more than 115 cities in Pakistan, has put additional pressure on Pakistan’s healthcare system that was already overburdened, piling issues on the vulnerable populations, said Dr. Tedros.
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