Mega IPO Planned for 2023 by Pakistan's Biggest Cooking Oil Maker
- Cooking oil maker could raise as much as 4.6 billion rupees
- Unilever sold Dalda’s Pakistan business to employees in 2004
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Dalda Foods Ltd., Pakistan’s largest cooking oil manufacturer, is planning an initial public offering in the country to bankroll the expansion of its production capacity.
The company is looking to raise between 3.3 billion rupees ($14 million)and 4.6 billion rupees in a share sale that could take place before Ramadan, which will start on March 22, according to Aziz Jindani, its chief executive officer. At 4.6 billion rupees, Dalda’s IPO would be Pakistan’s largest by a consumer staple company, data compiled by Bloomberg shows. It would also be the country’s largest since Air Link Communication Ltd.’s 6.4 billion rupee listing in September 2021.