The Securities and Exchange Commission of Pakistan (SECP) has given approval to Symmetry Group Limited, a renowned digital technology and experiences company based in Pakistan, for its Initial Public Offering (IPO).
This significant milestone allows Symmetry Group to move forward with its plans to launch the IPO and offer shares to the public.
Symmetry Group is a leading player in the digital industry and has been at the forefront of transforming and digitalizing marketing, sales, and other consumer-centric functions for organizations.
The company has received approval for listing on the main board of the Pakistan Stock Exchange Limited, paving the way for its IPO. The IPO will be conducted by the ‘Book Building’ method of offering, where shares are allotted to investors on the Dutch auction method.
The offering will consist of 101,240,082 shares obtainable at a floor price of Rs4.25 per share, including a fresh capital raise of PKR 375 million. Additionally, the Company sponsors, Sarocsh Ahmed and Adil Ahmed, will offer shares worth Rs55 million.
"Symmetry Group is driven by its pioneering legacy of transforming possibilities for businesses and organizations for over two decades. Our customers trust our creativity, innovation, and expertise in producing ground-breaking digital experiences. As we expand our capabilities and strengthen our core, our talented team sustains the trust of our stakeholders," said Sarocsh Ahmed, Chief Executive Officer & Co-Founder of Symmetry Group.
"From seamless digital integration to a reimagined suite of transformative products and services, partnering with us allows businesses to unlock their true potential. With aggressive local and global growth plans, the IPO boosts our financial standing, enabling us to develop cutting-edge, AI-driven products and intellectual properties."
"We see this as a reflection of the potential of the digi-tech sector. Together, we can accelerate the growth of Pakistan's tech industry, fostering innovation and creating opportunities. Symmetry Group is committed to driving forward, shaping a future with infinite possibilities transformed," he added.
Symmetry Group recently announced its new Board of Directors, led by Mr. Zaheer Hussain Dhodia as Chairman. The board comprises esteemed professionals from the corporate sector, including Ms. Musharaf Hai, Mr. Muhmmad Najeeb Agrawalla, Mr. Jibran Jamshad, Syed Asim Zafar, Mr. Adil Ahmed, Executive Director & Co-Founder, and Mr. Sarocsh Ahmed, Chief Executive Officer and Co-Founder.
Since its inception over two decades ago with a modest investment of only Rs150,000, Symmetry Group has emerged as a digital industry leader in Pakistan. With its expertise in digital strategy, transformation, digital commerce, data science, mobility, retail/research, and interactive marketing, the Company offers a comprehensive suite of digital brands and products to assist clients at every stage of their digital journeys. Symmetry Group's transformative solutions have benefited renowned organizations such as Jazz, Habib Bank Limited, Procter & Gamble, EFU Life Assurance, Digicel (Caribbean), English Biscuit Manufacturers, Martin Dow, Jubilee Life Insurance and many others.
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