SYNTHETIC PRODUCTS ENTERPRISES LIMITED IPO
Initial public offering at a price of Rs 30/- per Ordinary Share.

Subscription Dates:
6 January & 7 January 2014 (only during banking hours)

spel ipo

SPEL started business in 1978 as a partnership concern and later on converted to a private limited
company on 16 May 1982 under the companies Act, 1913 (now the Companies Ordinance, 1984).
The Company converted into a public limited company in the year 2008.

The Company operates under a covered area of more than 131,000 square feet. The Company is
currently operating four manufacturing units, two at Kot Lakhpat and the two at Raiwind Lilliani
Road, Lahore with about 450 employees.

SPEL has a portfolio of varied products with a client base of blue chip companies. The Company is
supplying plastic packaging to major national and multinational companies. Supplies are also made
to the assemblers and manufacturers of cars, tractors, motor-cycles, road construction equipment,
off-road vehicles etc. The Company’s products are known for quality and reliability. SPEL has a
good understanding and capability of using engineering plastics to meet the special requirements
and standards of its customers.

Financial Ratios

Gross Margin 19.9% 18.0% 18.1% 16.4% 20.1% 19.8%
Operating Profit Margin 12.2% 10.6% 10.4% 9.0% 13.5% 13.3%
Net Margin 5.4% 4.7% 5.1% 4.3% 7.1% 6.3%
Reported Earnings Per Share 1.87 1.75 1.73 1.04 2.10 0.51
Current Ratio 0.99 1.08 1.09 1.09 1.22 1.25
Breakup Value Per Share 12.48 12.12 13.89 12.57 10.33 10.84
Debt to Equity Ratio 0.98 0.97 0.89 0.98 0.60 0.58
Return on Assets 7.0% 5.6% 6.1% 4.6% 7.8% 1.8%
Return On Equity 18.0% 14.4% 15.6% 11.6% 14.8% 3.5%
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spel ipo

The Issue comprises of 19,350,000 Ordinary Shares of PKR 10/- each which constitutes 25.02% of the total
post IPO paid-up capital of the Company.

The Issue is being made through the Book Building process at a Lower Limit of PKR 23.0 per share
including premium of PKR 13.0 per share and an Upper Limit of PKR 39.1 per share including a premium
of PKR 29.1 per share.

75% of the total Issue size i.e. 14,512,500 Ordinary Shares of PKR 10/- each are being issued through the
Book Building process to institutional investors and HNWI investors.
25% of the total Issue Size i.e. 4,837,500 Ordinary Shares will be issued to the general public at the Strike
Price, which will be determined through the Book Building Process.

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