Business Recorder reported that Aisha Steel Mills Limited is in the process of being listed at Karachi Stock Exchange through its Offer for Sale Transaction by offering 10 million shares to general public at par value of PKR 10 per share. The pre IPO portion amounting to PKR 234 million of this transaction achieved financial close in April 2012 and had received an overwhelming response from the financial sector.

Arif Habib Limited is acting as the exclusive advisor & arranger to the OFS transaction. Aisha Steel Mills, the largest CRC mill in Pakistan, conducted a site visit for various dignitaries and market investors followed by presentation for their upcoming offer for sale of 10 million ordinary shares scheduled for July 3rd and 4th 2012.

The briefing was attended by various senior representatives of banks and DFIs, brokerage houses, KSE members and HNW individuals. Arif Habib Group chairman Mr Arif Habib and Mr Kashif Shah CEO Aisha Steel Mills addressed the briefing. ASML is a joint venture between Arif Habib Group, Metal One Corporation, Japan and UMC Japan. The company was incorporated in 2005 and is a state of the art Cold Rolled Coil steel mill in Pakistan based on the latest Japanese technology. Project cost amounts to PKR 9.38 billion which has been financed by debt equity ratio of 65:35. All the plant and machinery has been installed and trial production has already commenced.

ASML future plans include introduction of Pakistan's first service center, thus integrating into value added products. ASML is the largest CRC producer in Pakistan and will cater to over 50% of the annual market demand. The company will be the only CRC producer of Pakistan which has the technology and machinery to supply electrolytic cleaned CRC thus catering to high end automotive and white goods manufacturers in the country.

Source - Business Recorder

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