Symmetry Group Limited wants to raise Rs. 430.2 million through a stock exchange listing.
The Pakistan Stock Exchange (PSX) on January 17th, 2023, sought comments on the listing of the company which is offering investors 30.9 percent of its post-initial public offer (IPO) shareholding.
Symmetry Group is selling 78.2 million ordinary shares with a face value of Rs. 1 each for Rs. 5.50 per share. According to the draft prospectus, 22.1 percent of the total post-IPO shareholding is being sold as new shares, with the remaining 8.8 percent coming from existing shares held by the firm’s two sponsors.
The company will allocate Rs. 307.3 million from the proceeds of Rs. 430.2 million to fund its plans to develop digital platforms and new offices. The company plans on using the money for new equipment, specialized human resources, marketing, business development, and working capital requirements.
Brokerage house Topline Securities will play a role as the consultant to the issue. The PSX will accept public feedback on the listing documents until January 25, 2023.
In 2021-22, Symmetry Group managed consolidated sales of Rs. 341.5 million, a 19.1 percent increase over the previous year. In the same year, its consolidated earnings increased by 24 percent to Rs. 71.3 million.
Symmetry Group Limited is a Digital Technology and Experiences Company that specializes in digital products and services. The prime focus of the Company is on the transformation and digitalization of marketing, sales and other consumer-centric functions of organizations.
Their major clients include Jazz, Habib Bank, P&G, Digicel (Caribbean), EBM, Martin Dow Group, EFU Life and many others. The company takes care of digital transformation, digital strategy, interactive marketing, mobility solutions, development and maintenance of their mobile apps, websites, and portals, data analytics and reporting, and deployment and integration of third-party tools.
