A bad first day at PSX for Roshan Packages Limited

The stock closed at Rs 81.94 after a decline of Rs 4.31 (5.26%)

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Trading of Roshan Packages Limited (RPL) commenced today at an opening price of Rs.86.25. Against market expectations, the stock closed at Rs 81.94 after a decline of Rs 4.31 (5.26%). Total traded volume was 978,500.

RPL’s listing was a smashing success, blowing well past analysts’ expectations of the predicted strike price between Rs 50 and Rs 60 share in the initial Public Offering (IPO).The final price clocked in at Rs 86.25 which was nearly 2.5 times the Rs35 per share floor price, and 21.5% higher than the highest strike price of Rs 71 per share predicted by market analysts.

Pakistan Stock Exchange (PSX) Limited approved the application for formal listing and quotation of shares of Roshan Packages Limited (RPL) on February 24, 2017, after completion of relevant requirements under the Listing of Companies & Securities Regulations of the Exchange.