Systems Limited, a leading provider of next-generation IT and technology-led BPO services, announced that the company has planned an Initial Public Offering on Dec 4, 2014 through book building process. Systems Limited received the approval from SECP for selling 13 million of its ordinary shares in a public offering and to be listed on the Karachi, Lahore and Islamabad stock exchanges.
The book building portion of the issue comprises of 9.75 million Ordinary Shares at a price band of PKR25.0 to PKR35.0 per share while the General Public portion comprises of 3.25 million Ordinary Shares to be offered at a price equal to the strike price determined through the book building process. With this listing, Systems Limited will add significant value to the stock exchanges.
Asif Peer, CEO and Managing Director, Systems Limited commented, “Systems Limited has an excellent track record and has delivered strong growth and profitability in the recent years. We believe that our people, experienced management team and our customers, make us well positioned to deliver sustainable future growth. This IPO represents a significant step in the further development and will enable the business to achieve its true potential.” Asif added, “Following the IPO, Systems Limited is expected to drive more foreign direct investment and create additional jobs”.
The General Public portion will be announced and made available separately after the book building. AKD Securities Limited (AKDS) is acting as the Lead Manager and Book Runner for the initial public offering. The IPO will kick off from 9:00am to 5:00pm on Dec 4, 2014.
worth investing?
And here is the real question :P
Wait and see what happens in the next few days. You will get a chance to take part in the IPO after the bookbuilding tomorrow.
Also do read their prospectus.
I guess first of its kind in Pakistan. But I seriously doubt Systems limited being 300 Crore worth company. Maybe I am wrong. Anyways, good luck System Limited. Set the bar even higher than this and we’ll support you.
I guess first of its kind in Pakistan. But I seriously doubt Systems limited being 300 Crore worth company. Maybe I am wrong. Anyways, good luck System Limited. Set the bar even higher than this and we’ll support you.
First of its kind? What about NETSOL?
As for their net worth, simply read their prospectus on the website. All IPO companies publish one.
I guess NETSOL never had an IPO. Correct me if I am wrong.
Then, how did they end up on the Karachi Stock Exchange? Has been traded since May 2005!
NETSOL is also listed on NASDAQ
NETSOL Stock Symbol NTWK
lol this ahmedawais guy has no clue what he is talking about(as he usually does),no wonder why propakistani had to change his redesigned version of propakistani(which was rejected by users of this site).