Supernet Receives Rs. 659 million Bids through Book Building

Karachi, April 13: Supernet Limited has raised PKR 475 million through book-building at GEM Board of PSX. The process has concluded with an oversubscription of 1.4 times, the Company said on Wednesday. The total bids received are worth PKR 659 million while the strike price clocked in at Rs 22.50.

The first ever GEM Board listing of an IT company received an overwhelming response from institutional investors and, Roshan Digital Accounts holders and high-net worth individuals as the

Supernet has raised Rs 475 million in total, making it the largest IT listing at GEM Board of PSX.

Apart from local investors, foreign financial institutions also took keen interest in the initial offering of first IT company on GEM Board of PSX.

The issue consists of 21,111,121 Ordinary Shares, representing 18.81 per cent of the total post-offering paid up capital of Supernet of face value of Rs10 each.

The entire issue was offered through Book Building on April 12-13 at a Floor Price of Rs22.50 per share, including premium of Rs12.50 per share.

Super Net has been offered at FY22 PE of 6.7 vs Avg. IT sector PE of 22X, offering significant value to the investors.

This offering will help revive new listings at PSX once again. There is lot of demand for tech related stocks and that is why we saw higher than anticipated bids in the book building of SuperNet says Mohammed Sohail CEO of Topline Securities who acted as Advisor and Book Runner to the issue.

Jamal Nasir, CEO Supernet Limited, in his statement thanked the institutions and individual investors for showing interest and trust in Supernet and hopes that their investment in the company would yield great returns. We have offered great value to our investors and their trust and investment would grow with Supernet.

Recently, Supernet Group is aggressively expanding into Cyber Security, Power Solution and IT & Infrastructure Solutions business. The proceeds from listing will be utilized to finance the expansion plan.

For expansion into new business segments, SNL has set up two new subsidiaries: Supernet Secure Solutions Private Limited and Supernet Infrastructure Solutions Private Limited . Another subsidiary, Phoenix Global (Supernet Global Solutions), is a UAE based company that offers a wide range of IT & Communication solutions to its international clients. Supernet’s clientele include major banks, mobile operators, leading MNCs, government and defence institutions, etc.

Founded in 1995, it is one of the country’s leading telecommunications service provider and systems integrator. The company offers a full portfolio of local-to-global integrated communications infrastructure solutions to telecoms, defense, private firms and government sectors/customers and has a pool of highly trained and experienced human resource in wide range of communication and IT technologies spread across Pakistan in more than 200 cities and towns.

Supernet scrip oversubscribed on first day of Book Building at GEM Board, PSX

Karachi, April 13: Being the first IT company to be listed at GEM Board of PSX, Supernet Limited has received overwhelming response by investors on first day of its book building on 12th April. The book buying would continue on 13th April (today) too.

With an oversubscription of 1.99% on first day of its book building, Supernet received total bids of21,530,720 shares against an offer of 21,111,121 shares, over subscription by 1.99% or 419,599 shares on Day 1.

The first ever GEM Board listing of an IT company received an overwhelming response from institutional investors and high-net worth individuals.

Supernet has a target to raise betwen 475 million to 666 million through listing at GEM Board of PSX.

Apart from local investors, foreign financial institutions also took keen interest in the initial offering of first IT company on GEM Board of PSX.

The issue consists of 21,111,121 Ordinary Shares, representing 18.81 per cent of the total post-offering paid up capital of Supernet of face value of Rs10 each.

The entire issue was offered through Book Building on April 12-13 at a Floor Price of Rs22.50 per share, including premium of Rs12.50 per share.

Supernet set to raise 475 million through listing at PSX

KARACHI, March 31: Supernet Limited plans to raise Rs475 million through Initial Offering of its 18.81 per cent of post-offering share capital. The capital being raised by listing the firm on the GEM Board of the Pakistan Stock Exchange (PSX) will consist of fresh equity of Rs275 million in Supernet and ‘Offer for Sale’ by Telecard Limited of Rs200 million.

Supernet is the first technology company to be listed on GEM Board of PSX.

The issue consists of 21,111,121 Ordinary Shares, representing 18.81 per cent of the total post-offering paid up capital of Supernet of face value of Rs10 each.

The entire issue will be offered through Book Building on April 12-13 for which registration will Start from April 7 at a Floor Price of Rs22.50 per share, including premium of Rs12.50 per share. The upper limit of the price band will not be more than 40 per cent of the Floor Price.

Super Net is being offered at FY22 PE of 6.7 vs Avg. IT sector PE of 22X, offering significant value to the investors. Out of the total issue, 8,888,889 shares are being offered as Offer for Sale by Telecard and 12,222,232 shares are being offered as fresh equity.