Author name: Web Desk

Karachi: Ghani Dairies Limited (GDL), a subsidiary of the diversified Ghani Group, will raise Rs2.5 billion through an Initial Public Offering (IPO) at the Pakistan Stock Exchange (PSX). The issue consists of 104.2 million ordinary shares (24.28% of post-IPO paid-up capital) with a face value of Re1 each.75% of the shares (78.15 million) will be offered through the book-building method at a floor price of Rs24 per share, while the remaining 25% will go to retail investors at the strike price.Proceeds will fund herd expansion by importing 1,000 pregnant heifers, upgrading farm infrastructure, and bolstering working capital. This will lift raw milk production capacity from 17,840 tons per annum in FY2025-26 to 33,570 TPA by FY2026-27 and 38,371 TPA by FY2027-28.Established in 2020, GDL supplies 100% of its output to leading dairy processors under long-term contracts. The IPO marks the latest listing move in Pakistan’s food and agri sector following Matco Foods’ plan last month to separately list its subsidiary Falak Foods.

Karachi: The body of 3-year-old Ibrahim, son of Nabeel, was recovered Monday morning from a manhole in Gulshan-e-Iqbal Block 6 near Nipa Chowrangi after a 14-hour rescue operation. The child had fallen into the open sewer Sunday night while shopping with his parents.Rescue 1122, Edhi volunteers and other teams participated in the operation. The body was shifted to Jinnah Postgraduate Medical Centre for medico-legal formalities.The grieving family alleged that despite repeated calls to authorities throughout the night, no immediate rescue was launched. The child’s grandfather claimed even the Karachi Mayor’s phone was switched off.Mayor Murtaza Wahab condoled with the bereaved family and announced an inquiry into why the manhole was left uncovered, promising strict action against those responsible.This is the 20th death in Karachi this year due to open manholes and drains, including several children and women.

ISLAMABAD: The Competition Commission of Pakistan (CCP) has authorized the proposed acquisition of Elite Hospitality Ventures (Private) Limited by JS Hotel REIT. The approval granted under Section 11 of the Competition Act, 2010 and the Competition (Merger Control) Regulations, 2016. JS Hotel REIT is a newly established Shariah-compliant Hybrid REIT Scheme operating under the Real Estate Investment Trust Regulations, 2022. It intends to acquire shares of Elite Hospitality Ventures through a Share Purchase Agreement. The Target entity is a Special Purpose Vehicle formed to develop and operate a planned four-star “Hilton Garden Inn” hotel in Hyderabad. In its assessment, the Commission reviewed the nature of the transaction, its effect on market structure, and potential competitive implications in the relevant market in Hyderabad. CCP noted that neither party is currently active in the hospitality sector, therefore, the transaction creates no horizontal overlap or vertical linkage. The Commission concluded that the acquisition is non-horizontal and poses no risk of reducing competition, distorting the market, or creating or strengthening a dominant position. The transaction has therefore been authorized under Section 31(1)(d)(i) of the Competition Act, 2010.

KARACHI: Leading brokerage house Taurus Securities Limited has issued a highly bullish “Pakistan Investment Outlook 2026” report, projecting the KSE-100 index to reach 206,000 points by December 2026, implying a total return of 30% (24% price appreciation + 6% dividend yield) from current levels.The flagship index has already delivered ~45% return CYTD 2025, touching an all-time high of 169,989 in early October and currently trading around 166,678, making PSX one of the top-performing markets globally.Taurus attributes the ongoing three-year bull run to sharp reduction in political risk, successful continuation of IMF reforms, monetary easing, stable rupee, improving corporate earnings (especially cyclicals) and strong local buying that absorbed over $360 million of foreign selling since 2023.Despite the index now trading near its 10-year average forward P/E of ~8x, the house believes valuations remain attractive given the ongoing macroeconomic recovery, pending positive triggers (circular debt resolution, 2nd IMF EFF tranche in early December), and significant discount to regional peers and Pakistan’s own FY12-15 growth cycle.Top conventional picks include MEBL, BOP, MCB, HBL, FFC, OGDC, PPL, LUCK, MLCF, FCCL, INDU, PSO, AGP, SEARL, ILP, MUGHAL, ISL, CNERGY and PAEL. High-alpha ideas: PIBTL, BBFL, TOMCL, INIL, GCIL, CPHL and PTC.

ISLAMABAD: Pakistan and Egypt have resolved to significantly enhance bilateral trade and investment, currently standing at around $300 million, through structured business-to-business collaboration.Deputy Prime Minister and Foreign Minister Senator Ishaq Dar, addressing a joint press conference with visiting Egyptian Foreign Minister Dr Badr Ahmed Mohamed Abdelatty, announced that Pakistan will share a curated list of 250 leading Pakistani business houses with Egypt. The list, to be prepared under the leadership of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), will represent key sectors and be selected through a transparent process.“We had very focused discussions on strengthening commercial engagement,” Dar said, emphasizing the willingness of both sides to move beyond the current modest trade volume.During the visit, Dr Abdelatty called on President Asif Ali Zardari, who stressed elevating ties across all domains and appreciated Egypt’s role in regional diplomacy, particularly on Gaza. The Egyptian Minister also held talks with Chief of Army Staff Field Marshal Syed Asim Munir at GHQ, where both sides reaffirmed commitment to enhanced defence cooperation, military exchanges, training programs and regional stability.Dr Abdelatty also interacted with Pakistani business leaders, highlighting untapped potential in trade and investment partnerships between the two brotherly nations.