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Pakistan’s economy improved since 2013 elections: WSJ report
WASHINGTON: Pakistan’s economy has improved in recent years despite security challenges and energy problems, said a Wall Street Journal (WSJ) report that was about investors’ interest in a public offering of a multi-billion shopping mall in Karachi.
The country’s main stock market has gained 72% since the 2013 election that brought the government of Prime Minister Nawaz Sharif into power, according to the WSJ report.
“The country’s improving prospects are increasingly being recognised internationally.”
The report noted that PM Nawaz Sharif’s government has said boosting investment is one of their key economic objectives.
The report “Investors Flock to Pakistan’s First Real Estate Investment Trust” was about a response to a public offer by Pakistan’s first real-estate investment trust (REIT), which was heavily over-subscribed, according to the REIT’s lead manager and analysts.
The Dolmen City REIT offered investors a 25% stake in Rs 22.24 billion shopping mall and an office complex at Dolmen City in Karachi.
The report quoted REIT’s manger saying that the initial offer for 75% of the trust to institutional investors drew demand of more than Rs 7 billion for an offering of shares worth Rs 4.17 billion.
At the strike price, the initial offer raised Rs 4.59 billion.
The remaining 25% stake was to be offered to the public on Friday at a strike price of Rs 11. Analysts and the REIT’s management expected the Friday offering to be fully subscribed as well, raising another Rs 1.53 billion.
Pakistan’s economy improved since 2013 elections: WSJ report
- APP
- June 14, 2015
WASHINGTON: Pakistan’s economy has improved in recent years despite security challenges and energy problems, said a Wall Street Journal (WSJ) report that was about investors’ interest in a public offering of a multi-billion shopping mall in Karachi.
The country’s main stock market has gained 72% since the 2013 election that brought the government of Prime Minister Nawaz Sharif into power, according to the WSJ report.
“The country’s improving prospects are increasingly being recognised internationally.”
The report noted that PM Nawaz Sharif’s government has said boosting investment is one of their key economic objectives.
The report “Investors Flock to Pakistan’s First Real Estate Investment Trust” was about a response to a public offer by Pakistan’s first real-estate investment trust (REIT), which was heavily over-subscribed, according to the REIT’s lead manager and analysts.
The Dolmen City REIT offered investors a 25% stake in Rs 22.24 billion shopping mall and an office complex at Dolmen City in Karachi.
The report quoted REIT’s manger saying that the initial offer for 75% of the trust to institutional investors drew demand of more than Rs 7 billion for an offering of shares worth Rs 4.17 billion.
At the strike price, the initial offer raised Rs 4.59 billion.
The remaining 25% stake was to be offered to the public on Friday at a strike price of Rs 11. Analysts and the REIT’s management expected the Friday offering to be fully subscribed as well, raising another Rs 1.53 billion.
Pakistan’s economy improved since 2013 elections: WSJ report
