Pakistan, Aug. 14 -- The Securities and Exchange Commission of Pakistan (SECP) has approved the initial public offering (IPO) of Agro Processors & Atmospheric Gases Limited, which will be listed on the Pakistan Stock Exchange (PSX).

The company will offer 58,049,541 shares to the public, representing 15% of its post-IPO paid-up capital.

The IPO will be conducted through the book-building method. Under the offering, 75% of the shares will be offered to institutional and high-net-worth investors, with 25% reserved for retail investors. Agro Processors is engaged in the manufacturing, processing and sale of edible oils, vanaspati, industrial fats, margarine, spices and sauces.

The company plans to use about 40% of the proceeds to increase...