Jahangir Siddiqui & Co Limited, a renowned financial conglomerate, is investing Rs 4 billion in the telecommunication, technology and media sectors in Pakistan.
The investment has been made in the subsidiary JS Infocom which focuses on the business and operations of the group in these three sectors in Pakistan and overseas.
According to official disclosure to shareholders, the board of directors of company has approved a long-term investment in its wholly owned subsidiary Js Infocom Limited in telecommunication, technology and media sectors.
The investment will made through different ways and avenues including raising Term Finance Certificates (TFC) of worth Rs 2 billion; equity investment of up to Rs 1.5 billion by subscription of right shares that will be offered by JS Infocom; and through borrowing of Rs 500 million from banks.
JS Infocom Limited (JS Infocom) was incorporated on August 25, 2003 as a public limited unlisted company under the Companies Ordinance 1984.
It is presently seeking business ventures in the telecommunication sector, which is witnessing a rapid shift of advancement and progress with the gradual expansion of next generation technologies.
Telecom companies are very attractive for local investors who usually bring investment from their headquarters and meet their capital expenditure through government borrowings.
Similarly, large and medium scale IT companies and even startups having local and foreign customers are lucrative investment avenues for local investors like Jahangir Siddiqui & Co Limited. It is encouraging for local IT companies to work with such large financial group on different projects to serve local and foreign markets.
The improving macro-economic corridors coupled with upcoming mega business project of China Pakistan Economic Corridor (CPEC) are likely to offer many opportunities to local IT companies in local market in future.
While the investment in media is risky, it is a strategic one for every business conglomerate. Jahangir Siddiqui & Co Limited have made investment in media previously and will likely come up with unique partnership models in media industry.
Jahangir Siddiqui & Co Limited is one of the vlargest business groups in Pakistan, which also owns JS Bank, JS Investment and Energy Infrastructure Holding (Private) Limited.