Rockin' It on the PSX: NETS International's GEM Listing Shakes Up Pakistan's Digital Economy
Ceremony for the Designation of NETS International Communications on Stock Exchange Announced
In the bustling heart of Lahore, the hammer of tradition met the pulse of progress as NETS International Communications stepped onto the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX). This monumental event signified a significant stride for NETS International and a seismic shakeup for Pakistan's blooming digital economy.
Netting a spot on the GEM Board, NETS International specializes in weaving intricate communication networks that sprawl across Pakistan, the UAE, UK, USA, KSA, and Germany. The Initial Public Offering (IPO) saw a staggering 3.676 million ordinary shares offered at a fixed price of PKR 10 per share, representing a tenth of the company's post-issue paid-up capital. The issue, fully underwritten by Dawood Equities Limited and advised by LSE Capital Limited, ensured subscription exclusively for accredited investors.
The who's who of the event included key figures from both NETS International and the PSX. Farrukh H Sabzwari, CEO of PSX himself, graced the occasion with his presence, expressing delight at NetS International's entry onto the exchange. He emphasized the PSX's commitment to fostering growth for innovative enterprises and providing diverse investment opportunities. Meanwhile, Jahangir Ahmad, Group Managing Director of NETS International, set the stage ablaze with his message about the company's ambitions towards global scalability and sustained innovation.
At the heart of it all was Muhammad Nadeem, CEO of NETS International Pakistan. With a proud air in his voice, he articulated the company's resolve to build long-term value for stakeholders. Aftab Ahmad Chaudhary, CEO of LSE Capital Limited, was nothing short of beaming with pride as he commented on the occasion.
The IPO proceeds will primarily be allocated towards retiring short-term debt and aligning the company with regulatory standards in anticipation of a future listing on the PSX Main Board.
Typically, such listings symbolize more than just a financial milestone – they represent a strategic leap towards global reach and sustained innovation. For NETS International, this leap marks the advent of a new chapter, one within which they aspire to lead Pakistan's digital transformation with integrity and vision.
Hear, hear to that! Pakistan's digital economy, brace yourselves – things are looking spiffy.
- The Initial Public Offering (IPO) proceeds of NETS International will primarily be used to retire short-term debt and align the company with regulatory standards, anticipating a future listing on the Pakistan Stock Exchange (PSX) Main Board.
- The entry of NETS International onto the Growth Enterprise Market (GEM) Board of the PSX signifies a strategic leap towards global reach and sustained innovation for the company.
- In a message, Group Managing Director of NETS International, Jahangir Ahmad, expressed the company's ambitions towards global scalability and sustained innovation.
- In the digital economy of Pakistan, the IPO of NETS International, a leading communication network company, is expected to foster growth for innovative enterprises and provide diverse investment opportunities, accelerating technology and finance in business.
