Pakistan-based athletics socks manufacturer Interloop Ltd. plans to list its shares in an initial public offering (IPO).
Interloop plans to raise as much as 6.8 billion Pakistani rupees ($51 million) to expand its sock manufacturing capacity by around 20 percent and enter the denim business.
The sale consists of 109 million shares that will be offered at a floor price of $0.62 a share with a maximum price band of up to 40 percent.
Interloop will offer 12.5 percent of the business in the sale, likely to take place in January, and plans to lift revenue by 77 percent over five years. Revenue for the 12 months through June was $231.3 million.