Faisalabad, 3 June 2008: Pakistan’s Premier Investment Group, BMA Capital, has been appointed lead manager by Faisalabad-based Sadaqat Textile Mills (Pvt.) Ltd for the listing and Initial Public Offering (“IPO”) of the textile group. The IPO is expected to take place in September 2008 and will be a fresh issue of shares to the general public.
Sadaqat Textile Mills (Pvt.) Ltd. is a 100% export oriented textiles manufacturing company supplying home textiles globally. The company has a long and successful history of doing business since 1951 and is well recognized for its value addition in Pakistan. In its last financial year the company recorded a phenomenal sales growth of 66% and is projecting 40% growth within the existing financial year. In this manner, Sadaqat has been a standard-bearer for the textile industry.
BMA Capital is one of the leading investment firms in Pakistan's capital markets. The firm and its group companies provides a wide range of services with a particular focus on capital markets, corporate finance, asset management and retail brokerage, and has been a corporate member of the Karachi Stock Exchange (KSE) since 1992. In the banking sector, BMA acted as the transaction advisor to SAPICO for the sale of Saudi Pak Commercial Bank to an international consortium. BMA is also currently mandated as the sell side advisor to the Privatisation Commission for the sale of a 93% stake in SME Bank.