Tag: Pakistan Stock Exchange

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.

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.

Pakistan Stock Exchange Announces Top 25 Companies Awards Recipients 2020

Karachi: Pakistan Stock Exchange has announced the recipients of the Top 25 Companies Awards for the year 2020. The key pre-requisites for this prestigious award include Total Shareholder Return (TSR), shares must trade for atleast 50% of the total trading days during the year, and that the company is not in the Defaulters’ Segment of the Exchange or trading in its shares has not been suspended on account of violation of Listing Companies & Securities Regulations of the Exchange during the said year. This year,  specific weightage was also added for diversity and reporting on SDGs.

Since 1978, the PSX Top 25 Companies Awards have been presented to outstanding companies listed on the Stock Exchange. Broadly speaking, companies which have shown outstanding performance in terms of their corporate governance, financial performance and have added to shareholder value make it to the Top 25 Companies list. Specifically, companies who have outperformed others in terms of their Capital Efficiency, TSR, Free Float of Shares, Growth in Operating Revenue, Turnover of Shares, and specific quantifiers of Corporate Governance & Investors Relation are eligible for the PSX Top 25 Companies Award. Moreover, companies that have outperformed in other metrics such as reporting on Corporate Social Responsibility (CSR), Sustainable Development Goals (SDG), and Diversity & Inclusion are eligible for this prestigious Award.

On the announcement of the Top 25 Companies Awards 2020, the MD & CEO PSX, Mr. Farrukh H. Khan, stated, “I congratulate the recipients of the PSX Top 25 Companies Awards 2020. Through their exceptional performance in all spheres of business and corporate activities, whether operational, financial, governance, corporate social responsibility & SDGs, these listed companies have delivered exceptional value to all stakeholders and to Pakistan. They truly are role models for all companies.”

He further stated, “Since the last 44 years, Pakistan Stock Exchange has set a high bar to encourage and identify exceptional performance and companies. These companies have consistently created shareholder value.  The PSX Top 25 Companies Awards acknowledges and celebrates these corporate stars, which highlights them to local and global investors, whilst projecting a positive image of Pakistan and its economy on the international stage.”

He added, “I am also pleased to share that PSX has announced the Top 25 Companies Selection Criteria for the year 2021. This gives more weightage to the increasingly important Sustainable Development Goals. Moreover, performance of companies in terms of their financial ratios and minimum dividend distribution of 30% have been included in the revised criteria. We hope this will encourage all listed companies to focus on key SDGs and delivering higher shareholder value.”

The companies that made it to the Top 25 Companies Awards list in 2020, in order of their performance ranking, are:

  1. Fauji Fertilizer Company Limited
  2. Meezan Bank Limited
  3. Systems Limited                                             
  4. Security Papers Limited
  5. Archroma Pakistan Limited                            
  6. Fauji Fertilizer Bin Qasim Limited
  7. Mari Petroleum Company Limited                  
  8. Askari Bank Limited
  9. Abbott Laboratories (Pakistan) Limited                      
  10. Century Paper & Board Mills Limited
  11. Cherat Packaging Limited                               
  12. Cherat Cement Company Limited
  13. ICI Pakistan Limited                                       
  14. Ghani Global Glass Limited
  15. Engro Polymer & Chemicals Limited              
  16. International Industries Limited
  17. Redco Textiles Limited                                               
  18. Hum Network Limited
  19. Mehran Sugar Mills Limited                            
  20. Tri-Pack Films Limited
  21. Al-Abbas Sugar Mills Limited                         
  22. International Steels Limited
  23. Synthetic Products Enterprises Limited                       
  24. Attock Cement Pakistan Limited
  25. OLP Modaraba (Formerly: Orix Modaraba)

PSX again congratulates the winners who have performed exceptionally despite the difficult operating environment due to the Covid pandemic. The recognition of these companies by Pakistan Stock Exchange will cast a positive light on Pakistan’s business, economic and financial sectors. This will also highlight these companies to local & foreign investors, analysts and portfolio managers.

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