KARACHI: Capital markets fraternity welcomed Air Link Communication Limited's CEO, Muzzaffar H. Piracha, at a high-profile launch ceremony, presided by Sindh Governor 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, where Siddiqui welcomed all dignitaries himself. Kamran Nasir, CEO JS Global Capital, hosted the event.
Earlier, Air Link Communication Limited (Air Link) successfully raised Rs 6.43 billion; making it Pakistan's largest private sector IPO in the history. The IPO amassed a record participation of around Rs 11 billion by over 500 investors with strong institutional participation of 60 percent. JS Global Capital Limited is the consultant and book runner of the issue.
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 smart phone mobile policy is one great example. This policy enabled Air Link to establish a state-of-the-art factory for smart phone 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.
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 it's CEO Kamran Nasir for breaking records and creating history at the PSX in-line with their earlier achievements; and hope to see many more."
Muzzaffar H. 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.
Finally, and most importantly this was unthinkable without the support of JS Global which in my experience is by far the best brokerage and investment banking institution in Pakistan, way ahead of its peers. The credit of this resounding and record setting success lies squarely with JS Global. I would especially like to acknowledge and thank Kamran Nasir, CEO, JS Global who is a professional par excellence."
Kamran Nasir, CEO, JS Global Capital Limited, commenting on this historic IPO said, "I am a very proud member of JS Fraternity and whatever success you ascribe to me lies squarely with my colleagues. The ethos, culture and training at JS have continued to produce outstanding professionals over the last 50 plus years, who have served this country in various fields especially the financial markets and contributed significantly towards the economy of our motherland.
I take this opportunity to congratulate Airlink Communication especially its CEO Muzzaffar Piracha for creating an outstanding company.
I would also like to thank the Honorable Governor Sindh who continues to support initiatives that help the economy to prosper and plays an instrumental role in carrying out the vision of the PM Imran Khan."-PR
Copyright Business Recorder, 2021
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