Pakistan’s premier software house is going for IPO tomorrow!
Karachi, Pakistan – December 1, 2014 – Pakistan’s premier software house and the leading provider of next-generation IT and technology-led BPO services, announced that the company has planned an Initial Public Offering on Dec 4, 2014 through book building process. Systems Limited received the approval from SECP for selling 13 million of its ordinary shares in a public offering and to be listed on the Karachi, Lahore and Islamabad stock exchanges.
The book building portion of the issue comprises of 9.75 million Ordinary Shares at a price band of PKR25.0 to PKR35.0 per share while the General Public portion comprises of 3.25 million Ordinary Shares to be offered at a price equal to the strike price determined through the book building process. With this listing, Systems Limited will add significant value to the stock exchanges.
Asif Peer, CEO and Managing Director, Systems Limited commented, “Systems Limited has an excellent track record and has delivered strong growth and profitability in the recent years. We believe that our people, experienced management team and our customers, make us well positioned to deliver sustainable future growth. This IPO represents a significant step in the further development and will enable the business to achieve its true potential.” Asif added, “Following the IPO, Systems Limited is expected to drive more foreign direct investment and create additional jobs”.
The General Public portion will be announced and made available separately after the book building.
AKD Securities Limited (AKDS) is acting as the Lead Manager and Book Runner for the initial public offering. The IPO will kick off from 9:00am to 5:00pm on Dec 4, 2014.
About Systems Limited
Systems Limited, founded in 1977 is the leading global Technology and Business Process Outsourcing service provider, delivering innovative business solutions and technology-led BPO services. With over 2,500 employees globally, our people help customers around the world maximize their IT investments and create specialized solutions that drive business results. These solutions leverage our deep technical skills, accelerators, frameworks and products, industry best practices, and domain expertise to ensure they achieve the business goals and creative competitive advantage for our customers.
Systems Limited brings industry insights and the business acumen focused on helping its customer achieve a high ROI, offers enterprise mission-critical software solutions, and brings a deep technology-agnostic skill set which remains unmatched in the industry. By delivering on hundreds of projects, we have developed industry-specific offerings and cross-industry offerings, plus a suite of tools and accelerators that enable our customers to realize business benefits father with increased efficiency and lower overall IT costs.
The winning combination of our people, best-in-class technology, innovative business practices and value-added global alliances help us team up with corporate and public sector to deliver value by producing a significant return on our clients’ investments.