xx The successful institutional Bidders shall within seven 7 working days of

Xx the successful institutional bidders shall within

This preview shows page 16 - 18 out of 94 pages.

xx. The successful institutional Bidders shall, within seven (7) working days of the closing of the bidding period, deposit the balance amount as consideration against allotment of shares. xxi. Under clause 8.11 of Appendix 4 the Listing Regulations of KSE and 8.10 of Appendix 4 the Listing Regulations of LSE, where a successful institutional Bidder defaults in payment of shares allotted to it, the Margin Money deposited by such Institutional Bidder shall be forfeited to the Joint Book Runners. xxii. Margin money of unsuccessful Bidders will be refunded within three (3) working days of the close of the bidding period. xxiii. Final allotment of shares out of the Book Building portion shall be made after receipt of full subscription money from the successful Bidders; however, shares to such Bidders shall be issued at the time of issuance of shares out of the General Public portion of the Issue to successful applicants. xxiv. An associated person or any other related person or party of the Issuer shall not make bid(s) for shares in excess of 5% of the Book Building portion of the issue. 2.10 BANK ACCOUNT FOR BOOK BUILDING AND PUBLIC PORTION The Issuer has opened two separate bank accounts for collection of applications’ money, one each for the Book Building portion and the General Public portion of the Issue. The Bidders shall draw demand draft, pay order or cheque in favor of IPO of Engro Fertilizers Limited Book Building Account” which has been opened at Faysal Bank Limited. The collection bank shall keep and maintain the bid money in the said account. Once the Strike Price is determined and list of allottees is finalized, the Lead Managers, after obtaining NOC from KSE and LSE, may request in writing to the collection bank for transfer of the money of successful and accepted applications to the Issuers’ ac count(s) and advise for refund of the bid money to unsuccessful Bidders.
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Page 17 of 94 2.11 PAYMENT INTO THE BOOK BUILDING ACCOUNT The Bidders shall draw a demand draft, pay order or cheque favoring “I PO of Engro Fertilizers Limited Book Building Account” and submit it at the designated Bid Collection Center either in person or through facsimile along with a duly filled in Bidding Form. CASH MUST NOT BE SUBMITTED WITH THE BIDDING FORM AT THE BID COLLECTION CENTER. PAY ORDER, BANK DRAFT, CHEQUE (EXCLUDING INTERCITY CHEQUES) OR ANY OTHER APPROPRIATE INSTRUMENT ACCEPTABLE TO THE JOINT BOOK RUNNERS AND DRAWN IN FAVOR OF “I PO OF ENGRO FERTILIZERS LIMITED BOOK BUILDING ACCOUN T” ARE ACCEPTABLE, EXCEPT FOR THE LAST DAY, WHEN ONLY PAYODER OR BANK DRAFT SHALL BE ACCEPTED. Since the investors can bid for shares through “ Limit Price ”, “ Strike Order ” or “ Step B id” therefore payment procedure is explained below for all the three (3) methods.
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