Blue-Ex Plans Rs. 65 Million IPO to Migrate from GEM to PSX Main Board

Blue-Ex Limited, currently listed on the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX), has applied for migration to the Main Board, according to an official statement from PSX. The move marks a significant step for the company as it seeks to expand its presence in the capital market. To comply with the migration criteria set by PSX, Blue-Ex Limited will make a public offer through the issuance of a prospectus for its listing on the Main Board. The Initial Public Offering (IPO) will consist of 1,000,000 ordinary shares, each with a par value of Rs. 10, to be issued at a fixed price of Rs. 65 per share. This price includes a premium of Rs. 55 per share, with the justification for the premium detailed in the valuation section of the prospectus. KTrade Securities Limited and LSE Capital Limited have been appointed as the joint lead managers for the issue. In accordance with the Public Offering Regulations, 2017, and SECP Circular No. 16 of 2023, the draft prospectus has been made available on the PSX website for public comments. The public is invited to review the draft prospectus and submit written feedback to PSX. Details regarding the dates for public subscription and the comment period will be announced in due course.