ISLAMABAD: Zarea Ltd, a Lahore-based e-commerce marketplace for commodities, has applied for listing on the Pakistan Stock Exchange`s (PSX) main board to raise Rs1 billion through book building.

On Monday, the PSX announced that the total size of the initial public offering (IPO) is 62.50 million ordinary shares, with a par value of Re1 for each using the book-building method at a floor price of Rs16 per.

According to a company press release, the funds raised will support Zarea s strategic expansion across technology, logistics, infrastructure, and marketing to broaden its customer base and accelerate growth in the digital commerce sector.

The shares offered to the general investors are equivalent to 23.81 per cent of the total post-IPO paidup capital of Zarea Ltd.Staff Reporter