📊 Announcement · FCL Fast Cables Limited has released its half-yearly progress report on the utilization of proceeds from its Initial Public Offering (IPO) for the period ending December 31, 2025, as required by regulatory guidelines.
- The IPO raised a total of PKR 3,129.60M through the issuance of 128 million ordinary shares at a strike price of PKR 24.45 each.
- As of December 31, 2025, the company has completed various project milestones, including the installation of plant and machinery and civil works at its existing facility.
- 30% of the land required for current expansion has been acquired, with ongoing negotiations for additional land.
- The report includes an external auditor's review by Crowe Hussain Chaudhury & Co., confirming the utilization of IPO proceeds.
- Commercial production is expected to commence in Q1-Q2 2026, following trial production conducted during the same period.
About this brief: prepared automatically by BSL’s research systems from the company’s filing with the exchange. A summary for information, not investment advice — the original filing is the authoritative record.
Original filing (PDF)