The initial public offering (IPO) of shares of integrated cable manufacturer, Cable Solutions Limited (CSLK), will open on July 23.
Asia Securities Advisors (Pvt) Limited is the financial advisor and manager to the IPO.
80,786,600 ordinary voting shares of the company will be offered to the public, through a combination of an offer for subscription of 14,666,600 new ordinary voting shares and an offer for sale of 66,120,000 existing ordinary voting shares. The offer price of shares in CSLK will be Rs. 7.50 per share, with the company seeking to raise Rs. 109,999,500 from the public through its offer for subscription of 14,666,600 shares.
The company plans to use the funds for capital expenditure towards new machinery (81.8%) and working capital (18.2%). The sale of existing shares of the company, by four of its non-majority shareholders, will be subject to the offer for subscription being fully subscribed. Founded in 2008, CSLK is a subsidiary of ACL Cables PLC, and has expanded its footprint across international markets, with exports accounting for a substantial 94% of its Rs. 3.3-billion revenue in FY2023. Serving clients in 13 export countries including the USA, UK, Germany, and India, CSLK’s extensive global presence underscores its ability to meet stringent international standards and adapt to diverse customer needs.
