Symmetry Group gets SECP approval, announces launch of IPO

KARACHI: Symmetry Group Limited, a renowned digital technology and experiences company based in Pakistan, specializing in digital products and services, is pleased to announce that it has received approval from the Securities and Exchange Commission of Pakistan (SECP) 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 PKR 4.25 per share, including a fresh capital raise of PKR 375 million. Additionally, the Company sponsors, Sarocsh Ahmed and Adil Ahmed, will offer shares worth PKR 55 million.

Sarocsh Ahmed, Chief Executive Officer & Co-Founder of Symmetry Group, was enthusiastic about this milestone:

“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.

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.

Symmetry Group recently announced its new Board of Directors, led by Zaheer Hussain Dhodia as Chairman. The board comprises esteemed professionals from the corporate sector, including Musharaf Hai, Muhmmad Najeeb Agrawalla, Jibran Jamshad, Syed Asim Zafar, Adil Ahmed, Executive Director & Co-Founder, and Sarocsh Ahmed, Chief Executive Officer and Co-Founder.

Copyright Business Recorder, 2023