Jubilee Life Insurance wins Asia Money Award 2022

Jubilee Life Insurance, the largest private sector insurer in Pakistan, has extended its list of notable acknowledgments with Asia Money Award 2022. Asia Money is a prestigious platform that adjudges financial performance of companies on a set of strict criteria to ascertain the most outstanding companies in various countries.

Jubilee Life Insurance is the first and the only life insurance company in Pakistan to win this prestigious award.

Jubilee Life Insurance also made its name in Best Corporate Report Award 2021. The Company received the accolade in recognition of its excellence in corporate reporting, promoting accountability and transparency, as well as responsible presentation of economic, environment and social performance of the business.

Jubilee Life Insurance was recently ranked in the list of Top 25 best performing companies at the Pakistan Stock Exchange based on its good financial ratios, effective CSR as well as Diversity, Equity & Inclusion practices. It is the only insurance company to be awarded with the PSX Top 25 Companies Award thrice during last 10 years.

The Company has been at the forefront of not just financial and operational excellence but also digital innovation. The two accolades: ‘Best Integrated Media Strategy’ and ‘Best Content of the Year’ at Pakistan Digital Awards 2022, serve as a testament to the claim.

Commenting on these achievements, Mr. Javed Ahmed, MD & CEO Jubilee Life Insurance, said; “At Jubilee Life Insurance, our goal has always been to excel at all fronts. Besides exceptional achievement on the financial side, we are making head ways on other avenues as well. Winning the Asia Money Award and the Best Corporate Report Award 2021 after having recently received the PSX Top 25 Companies accolade is a tremendous boost of confidence for the Company, its customers, stakeholders and the team of employees who made this all possible.”

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.

Governor State Bank visits CDC to further strengthen SBP’s commitment to the development of Pakistan Capital Market

Governor State Bank Dr. Reza Baqir visited CDC House to mark the successful operationalization of important projects for Pakistan Capital Market, namely Roshan Equity and RAAST for Dividend payments, which have been implemented in the recent past by the State Bank in collaboration with the Capital Market and commercial banks.

It is indeed a moment to celebrate for CDC and the entire Capital Market as the successful roll-outs of these key projects of market development have started yielding promising results besides effecting ease of doing business through innovative solutions, digitization and efficiency of processes.

Speaking at the occasion Governor State Bank Dr. Reza Baqir, said, “This is an occasion of immense and significant achievement as we gather here to celebrate the successful roll-out of important projects of national interest—including Roshan Equity and RAAST—that have been initiated by the State Bank of Pakistan and very well executed by commercial banks and CDC. In all these projects, Central Depository of Pakistan has been playing the important roles of facilitator, infrastructure architect and information sharing hub. This is only the beginning of what our vision is for the development of Pakistan’s Capital market. SBP is committed to work with SECP to support Capital market entities in this regard. Now, we have initiated a new project for the Capital Market pertaining to Shared KYC through which investors can open Capital Market Account through their respective Bank’s portal/app. This project will pave the way for wider outreach for our Capital Market.”

Mr. Badiuddin Akber CEO-CDC thanked SBP and SECP for their continued support and patronage in achieving these milestone in its market transformation journey. CDC is already processing thousands of transactions related to Roshan Digital Accounts and RAAST for Stock Exchange, for which CDC acts as the information sharing hub between the banks and capital market entities. Now, for the “Shared KYC project”, CDC will again act as the Information Sharing bridge for the digital opening of capital market accounts through banking portals for Local Resident Investors with the objective of removing duplication of information capture and KYC processes, he further said.

At the start of the ceremony, Mr. Moin Fudda Chairman Board of Directors-CDC, welcomed Dr. Baqir and other guests to CDC and highlighted the achievements of SBP under the leadership of Dr. Baqir. Mr. Furrukh Khan MD-PSX also addressed the ceremony and stressed on the important role of SBP in the development of Pakistan Stock Market. Ms. Musrat Jabeen Executive Director-SECP focused on the significance of collaboration between SBP and SECP.

Prominent personalities from the banking sector and Pakistan Capital Market also attended the event.

Pakistan Stock Exchange (PSX) Ltd. & Deutsche Börse AG (DBAG) Sign Exclusive Data Licensing Agreement

PSX has signed an exclusive data licensing agreement with the leading exchange operator Deutsche Börse for enhancing the depth and coverage of its market data product offerings globally

DBAG would be the exclusive licensor of PSX Market Data to all current & prospective international PSX Data consumers for an initial term spanning five years

Starting January 1, 2022, Deutsche Börse will be the sole licensor of PSX stock market data for international customers. This data cooperation agreement is a significant step ahead for PSX which will allow Pakistan Stock Exchange to extend its market data reach globally. With this agreement, Pakistan Stock Exchange will increase its global footprint, with the aim of leveraging Deutsche Börse’s international reach to significantly expand its market data client base and attract foreign investors to participate in PSX’s markets.

Mr. Farrukh H. Khan, MD & CEO at Pakistan Stock Exchange said, “Our broader vision is to increase market participation by supporting easy and equitable access to high-quality information. With the growing sophistication of our market, partnerships with global exchange networks and data vendors extend our international presence.”
Mr. Nadir Rahman, COO at PSX said, “In the coming months, PSX is looking forward to implementing new technologies that will deliver additional value to customers and shape the future of the industry. This arrangement presents us with an opportunity to expand our geographic footprint through collaboration with one of the largest exchange operators on enhancing the depth and coverage of our Market Data product offerings.”

Alireza Dorfard, Head of Market Data + Services at Deutsche Börse, said: “With this partnership, we are providing clients with an additional market data offering in a growing market. At the same time, we are reducing their administrative requirements and increasing overall efficiency.”
Pakistan Stock Exchange in recent years has introduced various innovative financial products designed to cater the needs of a growing appetite among international investors looking to get exposure in an exciting emerging economy which offers considerable value.
PSX’s range of data products will be accessible to international clients facilitated by this agreement with Deutsche Börse. The market data offering includes real-time, delayed as well as End of Day data.

About Deutsche Börse Market Data + Services
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Their product portfolio includes real-time market data, index data from the DAX and STOXX indices, as well as reference data and historical data. In addition, they use highly granular market data from Eurex & Xetra to develop meaningful analytics that help their clients optimise their trading strategies. Deutsche Börse growing offering includes the cloud-based analytics platform A7 or tools such as Xetra and Eurex Flow Insights, which can be obtained directly from Deutsche Börse Data Shop.