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Governor Sindh lauds JS Global on bringing largest private sector IPO to PSX

Governor Sindh lauds JS Global on bringing IPO to PSX

KARACHI: Capital Markets fraternity welcomed Air Link Communication Limited’s CEO, Muzzaffar H. Piracha, at a high-profile launch ceremony, presided by the Honorable Governor Sindh Imran Ismail, at JS Global Capital Limited’s head office.

The launch ceremony was attended by Pakistan’s top financial industry professionals, business leaders, and the founder of JS Group, Jahangir Siddiqui. Kamran Nasir, CEO JS Global Capital, hosted the event, which was held at JS Global Capital’s office at The JS Center.

Earlier, Air Link Communication Limited (Air Link) successfully raised PKR 6.43 Billion; making it Pakistan’s largest private sector IPO in history. The IPO amassed record participation of around PKR 11 Billion by over 500 investors with strong institutional participation of 60%. JS Global Capital Limited is the consultant and book-runner of the issue.

Honorable Governor Sindh, Imran Ismail, congratulating the key stakeholders, said, “I would like to place on record and give credit to PM Imran Khan’s vision whereby he made everyone work hard to change the economy from import focused to export-focused; which takes time and the new smartphone mobile policy is one great example.”

“This policy enabled Air Link to establish a state-of-the-art factory for smartphone assembling of international brands. Ultimately, Pakistan is eyeing towards a billion-dollar export target through this segment in about three years where Air Link would be a great beneficiary,” he added.

“I would like to congratulate Air Link, especially Muzzaffar Hayat Piracha on becoming the largest ever IPO in the private sector at PSX. I would also like to Congratulate JS Global (Consultant/Book Runner) and its CEO Kamran Nasir for breaking records and creating history at the PSX in line with their earlier achievements, and hope to see many more,” he concluded.

Mr. Muzzaffar Piracha, CEO Air Link Communication Ltd. said, “I can’t thank Allah enough for his countless blessings on me, my family and my company. I am indeed humbled with the love, affection, support and confidence that I have received today from the Capital Markets Dignitaries at today’s reception.”

“I share this achievement with my father and family, and specially my late brother Moazzam Piracha who co-founded this company with me. I would also like to dedicate this success to my team,” he added,