KARACHI/ISLAMABAD: Zarea Ltd, a leading B2B digital marketplace for commodities, on Saturday announced to raise Rs1 billion through initial public offering (IPO).

According to Topline Securities, the book-building phase is scheduled for Feb 10-11, followed by the retail subscription period on Feb 17-18.

Zarea will offer 62.5 million shares, representing 23.81 per cent ofits postIPO paid-up capital, at a floor price of Rs16 per share, through a 100pc bookbuilding mechanism.Bettani-2 begins production The Oil and Gas Development Company Ltd on Friday announced that it had commenced production from the Bettani-2 appraisal well in the Lakki Marwat, Khyber Pakhtunkhwa.

The well is currently producing 8.5 msefd of gas and 610bpd of oil. The produced gas is being processed at Bettaniprocessingplant andinjected into the SNGPL network, ensuring a seamless supply to the national energy grid.-Staff Reporter