KARACHI: The formal trading in shares of newly listed AGP Limited started on Pakistan Stock Exchange on Monday.

AGP is the first pharmaceutical manufacturing sector company that is listed on Pakistan Stock Exchange after a gap of 23 years. On this occasion, a ceremony was held at the main trading hall of Pakistan Stock Exchange. Chairman AGP Limited Tariq Moinuddin Khan rang traditional bell on the occasion.

Talking to reporters, Tariq Moinuddin Khan said AGP Limited has raised Rs 2.8 billion at the stock exchange through initial public offering of its 35 million shares (12.5 percent) at price of Rs 80.00 per share determined through book building process.

On the first trading day, the price of shares of AGP Limited surged by 5.00 percent or Rs 4.00 to close at its upper circuit of Rs 84.00 with total volumes of 20,500 shares.