EIPO (Electronic Initial Public Offering) - CDC
eIPO(Electronic Initial Public Offering)CDC HOUSE CDC HOUSE, 99-B, BLOCK B, S.M.C.H.S, MAIN SHARAH-E-FAISAL, KARACHI
Procedures for Electronic Initial Public Offering (eIPO)IntroductionCentral Depository Company of Pakistan Ltd (CDCPL) has developed a Centralized eIPOSystem (CES) on eServices portal through which Pakistani individual investors can submitonline applications for subscription of securities offered through Initial Public Offering(IPO) and Offer for Sale. The eServices portal will also facilitate payment againstsubscription applications through various banking channels (such as internet banking,Automated Teller Machines and mobile banking). The eServices portal can be accessedby the general public through the web link html).The eServices portal is intended to achieve the following objectives: Increase the outreach of IPOs. Promote the culture of keeping custody of securities in book entry form. Make the IPO process more efficient. Ensure transparency by keeping the investors informed throughout the IPO process.The main participants involved in eServices portal are: Individual Investors (Resident Pakistani and Non-Resident Pakistani) Corporates Issuers RTAs Balloters CDC 1-Link’s Member BanksThe objective of this document is to broadly outline the procedures that will be followedby the above mentioned participants involved in the IPO process through eServices portal.July 24, 2018ExternalPage 2 of 10
Procedures for Electronic Initial Public Offering (eIPO)Detailed ProcedureIPO Setup on eServices portalEvery IPO will be defined in the eIPO system through Admin Module. For utilizingeServices portal the following procedure will be applicable: Issuer will communicate to CDC that it intends to allow subscription applicationsubmission by investors through eServices portal. In this respect Issuer will be required to sign a standardized Issuer Agreementspecifically for the purpose of eServices portal which will be provided by CDC onstamp paper of Rs.1,000/- (two copies). The following documents will be required to be submitted by the Issuer in additionto the above mentioned Agreement: eIPO Setup form Certified true copy of SECP approval of Prospectus/Offering Document. Clearance of Pakistan Stock Exchange. Approved prospectus of the Security.The following documents will also be required by the Issuer in soft form enablingCDC to be made available on eServices portal to facilitate Investors accessinginformation regarding IPO: Financial Documents Preliminary Prospectus Final Prospectus eIPO Terms and Conditions Physical IPO Form Application Instruction for Investors The Issuer will provide information to CDC separately for setting up the details ofeach eServices portal Element. On the basis of the provided information, CDC will create User IDs for the relevantElements enabling them access to eServices portal, User IDs and password will becommunicated via email to respective Elements. After the completion of eIPO setup on eServices portal, following information willbe reflected for general public on eServices portal: Complete details and schedule of the IPO. Financial documents, Final prospectus, Physical IPO form and otherrelevant documents.July 24, 2018ExternalPage 3 of 10
Procedures for Electronic Initial Public Offering (eIPO)Balloter Element Balloter will access the eServices portal to download the details of those investorswho have submitted IPO application through eServices portal. Balloter will be able to download the detail on 2nd business day after the close ofsubscription period. Balloting process will be carried out outside eServices portal. Upon completion of balloting process the Balloter will upload details of successful,unsuccessful and withheld applications in eServices portal pertaining to investorssubscribing through eServices portal.Investors will also be informed through SMS and email alerts through eServicesportal about their balloting status. Refund against Unsuccessful Applications. A letter will be required from the Issuer along with a list of unsuccessful applicants. After receiving request letter duly signed by authorized signatory(ies) of the Issuerenclosing list of unsuccessful/unaccepted applicants alongwith refund list dulystamped by the company as per Annexure “A”. CDC will initiate instruction to 1Link to refund the subscription amount to unsuccessful/unaccepted applicants whohad subscribed through eServices portal. Based on CDC’s instruction 1-Link will instruct the relevant banks to refund theamount to their customers and respective banks would immediately refund theamount to unsuccessful investors accordingly.Share Registrar Element (R/TA) Share Registrar will upload the list on eServices portal of successful applicants ofIPO subscribing through eServices portal who will be issued with securities in CDSand their status would be updated accordingly. Share Registrar will issue securities in book entry form directly into the respectiveCDS accounts of the successful applicants as per current CDC Procedures. Investors will also be informed through SMS and email alerts through eServicesportal about allotment of shares.July 24, 2018ExternalPage 4 of 10
Procedures for Electronic Initial Public Offering (eIPO)Release of Fund to Issuer after completion of eIPO process For the purpose of NoC from PSX, CDC to issue a letter (as per Annexure “B”)to Company/Issuer for confirming the collection of subscription amount andcategory wise application details alongwith the pro-rata details (where applicable). Upon receiving of confirmation letter from Issuer along with NoC from PSX, CDCwill provide details pertaining to successful Investors to 1-Link for onward transferof the successful subscription amount net of applicable commissions to the Issuer’sdesignated bank account.July 24, 2018ExternalPage 5 of 10
Procedures for Electronic Initial Public Offering (eIPO)Annexure “A”Date:Pro-Rata Register (Rounding off nearest the Shares) on the Basis of Over Subscription of CDC eIPOSerial ApplicationNoCategoryJuly 24, e 6 of 10
Procedures for Electronic Initial Public Offering (eIPO)IN CASE WHERE NO PRO RATA APPLICABLEAnnexure “B”DateIssuer AddressSubject: Confirmation for Subscription Collection - General Public Portion of the NewIssue of Shares/Certificates of ABC Company LimitedDear Sir,We would like to confirm that a sum of PKR have been collected in theGeneral Public portion of the New Issue of Shares/Certificates of ABC Company Limitedheld on Dates in the Central Depository Company Limited’s Centralized e-IPO System.The category wise applications detail are mentioned below.Application CategoryNo ofNo. ofApplications Shares/CertificatesAmount (PKR)500 shares/Certificates1,000 shares/Certificates1,500 shares/Certificates2,000 share/CertificatesAbove 2,000 shares /CertificatesSub TotalYours sincerely,July 24, 2018ExternalPage 7 of 10
Procedures for Electronic Initial Public Offering (eIPO)IN CASE WHERE PRO RATA APPLICABLEAnnexure “B”DateIssuer AddressSubject: Confirmation for Subscription Collection - General Public Portion of the NewIssue of Shares of ABC Company LimitedDear Sir,We would like to confirm that a sum of PKR have been collected in theGeneral Public portion of the New Issue of Shares of ABC Company Limited held on Datesin the Central Depository Company Limited’s Centralized e-IPO System.However, based on the instruction from the Issuer/ Balloter Rs. have been refundedto unsuccessful applicants due to pro-rata distribution.The category wise applications detail are mentioned below.Application CategoryNo ofApplicationsNo. ofShares/CertificatesAmount (PKR)500 shares/Certificates1,000 shares/Certificates1,500 shares/Certificates2,000 share/CertificatesAbove 2,000shares/CertificatesSub TotalRefund upon pro rata aboveShares/CertificatesTotalYours sincerely,July 24, 2018ExternalPage 8 of 10
Procedures for Electronic Initial Public Offering (eIPO)Guidelines for Registration on eServices portal and eIPO SubscriptionIntroduction:Central Depository Company of Pakistan Limited (CDC) has developed a Centralized eIPOSystem (CES) on eServices portal through which individual investors can submit onlineapplications for subscription of securities offered through Initial Public Offering (IPO) andOffer for Sale. Centralized eIPO System (CES) will also facilitate payment againstsubscription applications through various banking channels (such as internet banking,Automated Teller Machines (ATM) and mobile banking).Note: Resident and Non-Resident Pakistanis individual and Corporates are allowed tosubscribe for IPO via eServices portal.Process for Registration on eServices Portal: To register for eServices Portal, please visit on the following link for dex.xhtml If you are currently not availing this facility, please first register yourself byclicking New Here? Register Now tab.(Anyone can register provided they have CNIC / NICOP / POC /Passport in caseof individual clients AND Registration number OR NTN for corporate body) After clicking the Register Now option you are requested to fill up the formdisplayed on the screen. (All the mandatory fields having asterisk (*) must befilled). After filling the requisite form, kindly save all the information by clicking theSAVE button. After successfully saving the form you will get a link on registered email address.Upon clicking this link another screen will open up for resetting of your password. The password can be of 8 to 16 characters out of which 6 characters should bealphabets (at least 1 upper case and 1 lower case letter) and at least 2 numeric digits. After setting up your password, return to the home page of eServices portal. Your User ID would be your CNIC or NICOP or POC or Passport in case ofindividuals and Registration number or NTN for corporate body. The passwordwould be the same that you had setup earlier.July 24, 2018ExternalPage 9 of 10
Procedures for Electronic Initial Public Offering (eIPO)Subscription for eIPO: Resident and Non-Resident Pakistanis individual and Corporate Clients are allowedto subscribe for IPO via eServices portal. An application can be made in individual capacity and not in joint status. However,a CDS joint account can be used for subscription by the account holders separatelyfor their respective applications. After successful login into your account, kindly click “Public Offering” tabappearing under eIPO option by reading and accepting Disclaimer. Afterwards“List of Public Offering(s)” will be displayed for subscription. Before filling out the applicant details, investor has to read and agree the statementabout submission of false and fictitious applications by marking check on the boxgiven in start of the form. For CDS Account Holder, give participant ID and CDS Account Number and presssearch button, after this CDS account information of an investor will auto populatedon the applicant’s details. Fill out the Subscription Details and mark checks by reading statements(Agreement and Declaration) before saving of the form. After pressing save button, a pop up window will appear i.e. “ApplicantInstructions for Investors” investor hereby agree the statement by marking checkon the box (Terms and Conditions, Declaration) and press submit. After submitting the application a Subscription ID will be generated by eServicesportal and sent to the investor via e-mail and SMS. This Subscription ID will beused by the applicant for making payment. Payment can be made against Subscription ID through available banking channelsof 1-Link member banks (such as Internet Banking, Mobile App, ATM).July 24, 2018ExternalPage 10 of 10
Elements enabling them access to eServices portal, User IDs and password will be communicated via email to respective Elements. After the completion of eIPO setup on eServices portal, following information will be reflected for general public on eServices portal: Complete details and schedule of the IPO.
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Initial public offering of shares with an indicative price range of NOK 45 to NOK 60 per share Listing of the Company 's shares on the Oslo Stock Exchange This prospectus (the Prospectus" ") has been prepared in connection with the initial public offering (the Offeri
Initial Public Offering N O V E M B E R 2 0 1 8. Certain statements in this presentation, including responses to questions, contain or may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts contained in this presentation .
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