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What is TOMCL IPO: 40M Shares at PKR18 about?

The Organic Meat Company Limited plans to raise PKR720 million through an initial public offering (IPO) on the Pakistan stock exchange. It will offer 40 million shares at a floor price of PKR18 per share from July 3 to July 7, 2020. The company intends to use the IPO proceeds to set up new production facilities for offal processing and expand its product range. The Organic Meat Company is one of the largest halal meat processors in Pakistan and exports around 87% of its sales to over 14 countries.

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