ABHI Microfinance Bank Limited (AMFBL) has allocated the largest portion of its initial public offering (IPO) to high net worth individuals, who secured approximately 37.73 million shares, representing 38.11% of the total 99 million shares offered. The allocation results followed a book-building process conducted on November 5 and 6, 2026, through which the bank’s shares were offered at a strike price of Rs15.50 per share. Arif Habib Limited, the consultant to the issue, shared the results, outlining the distribution of shares among participating investor categories. The allocation indicates that high net worth individuals emerged as the largest investor group in the offering, receiving a greater portion of the available shares than institutional investors, corporate participants and other categories.
The IPO attracted total participation worth approximately Rs2.43 billion against the issue size of Rs1.485 billion, resulting in an oversubscription of around 1.6 times. This indicates that investor demand exceeded the value of shares made available through the offering. According to the results shared by Arif Habib Limited, a total of 83 investors participated in the book-building exercise, of whom 73 were successful. The participation reflects interest from different investor groups in acquiring shares of ABHI Microfinance Bank, with the final allocation distributed across several categories. The strike price of Rs15.50 per share was established through the book-building process, which took place over two days and determined the price at which the shares would be allocated.
Trading Right Entitlement Certificate (TREC) holders received the second-largest allocation, securing approximately 30.95 million shares, equivalent to 31.27% of the total offering. Other institutions and corporate investors were allocated around 26.14 million shares, accounting for 26.4% of the issue. Together, these two categories represented a substantial portion of the IPO alongside high net worth individuals. The allocation to TREC holders reflects the participation of market-related investors, while the institutional and corporate category represents organisations that took part in the book-building process. The distribution demonstrates that the offering attracted participation beyond individual high net worth investors, with market participants and institutional investors also securing significant portions of the available shares.
Other investor categories received comparatively smaller allocations. Mutual funds were allocated approximately 3.77 million shares, representing 3.80% of the total offering. Employees’ provident and pension funds received 251,250 shares, accounting for 0.25%, while insurance companies secured 165,000 shares, equivalent to 0.17% of the issue. Commercial banks did not receive any shares under the final allocation. The distribution shows that mutual funds accounted for the largest allocation among the smaller investor categories, while employee-related funds and insurance companies received limited portions of the offering. The complete allocation covered all 99 million shares, with the largest portions distributed among high net worth individuals, TREC holders and other institutions and corporate investors.
The allocation results provide an overview of investor participation in ABHI Microfinance Bank’s IPO and the distribution of shares across different market segments. With demand reaching approximately Rs2.43 billion against an issue size of Rs1.485 billion, the offering recorded an oversubscription of 1.6 times, while 73 out of 83 participating investors were successful. The Rs15.50 strike price established during book building will serve as the reference price determined through the offering process. The IPO also represents a development in Pakistan’s capital market and the participation of a microfinance banking institution in the public share offering process. The final distribution, particularly the 38.11% allocation to high net worth individuals, highlights the investor category that secured the largest share of AMFBL’s 99 million-share offering.
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