AVN 63.94 Decreased By ▼ -1.02 (-1.57%)
BAFL 29.95 Decreased By ▼ -0.30 (-0.99%)
BOP 4.64 No Change ▼ 0.00 (0%)
CNERGY 3.88 No Change ▼ 0.00 (0%)
DFML 13.40 Decreased By ▼ -0.15 (-1.11%)
DGKC 40.64 Decreased By ▼ -1.56 (-3.7%)
EPCL 47.01 Increased By ▲ 1.20 (2.62%)
FCCL 10.99 Decreased By ▼ -0.42 (-3.68%)
FFL 5.05 Decreased By ▼ -0.12 (-2.32%)
FLYNG 5.76 Decreased By ▼ -0.04 (-0.69%)
GGL 9.78 Decreased By ▼ -0.26 (-2.59%)
HUBC 61.85 Decreased By ▼ -1.45 (-2.29%)
HUMNL 5.66 Decreased By ▼ -0.09 (-1.57%)
KAPCO 27.52 Decreased By ▼ -0.31 (-1.11%)
KEL 2.14 Increased By ▲ 0.01 (0.47%)
LOTCHEM 24.23 Decreased By ▼ -1.10 (-4.34%)
MLCF 20.78 Decreased By ▼ -0.79 (-3.66%)
NETSOL 83.19 Decreased By ▼ -1.80 (-2.12%)
OGDC 86.27 Increased By ▲ 0.04 (0.05%)
PAEL 10.78 Decreased By ▼ -0.14 (-1.28%)
PIBTL 4.11 Decreased By ▼ -0.12 (-2.84%)
PPL 76.26 Decreased By ▼ -2.26 (-2.88%)
PRL 13.66 Increased By ▲ 0.04 (0.29%)
SILK 0.88 Decreased By ▼ -0.01 (-1.12%)
SNGP 40.86 No Change ▼ 0.00 (0%)
TELE 5.87 Decreased By ▼ -0.13 (-2.17%)
TPLP 15.61 Decreased By ▼ -0.39 (-2.44%)
TRG 109.97 Decreased By ▼ -1.73 (-1.55%)
UNITY 13.80 Decreased By ▼ -0.19 (-1.36%)
WTL 1.14 Increased By ▲ 0.01 (0.88%)
BR100 3,967 Decreased By -58.9 (-1.46%)
BR30 14,185 Decreased By -217.7 (-1.51%)
KSE100 39,871 Decreased By -579.3 (-1.43%)
KSE30 14,898 Decreased By -212.2 (-1.4%)
Business & Finance HUMNL (Hum Network Limited) 5.66 Decreased By ▼ -1.57%

Hum Network to launch $50mn Pakistan Katalytic Fund

  • Money will be invested in 'technology and related companies which have the potential to scale their business'
Published October 20, 2022
Follow us

Hum Network FZ LLC, a 100% owned subsidiary of HUM Network Limited (HUMNL), has entered into an arrangement with GS Group Inc. as General Partners (GPs) to launch and manage a fund named Pakistan Katalytic Fund (PKF) with an expected fund size of close to $50 million.

In a notice sent to the Pakistan Stock Exchange (PSX) on Thursday, HUMNL announced that “its 100% owned subsidiary, HUM NETWORK FZ LLC., has entered into an arrangement with GS Group Inc. as General Partners (GPs) where the GPs will work together to launch and manage a fund named Pakistan Katalytic Fund (PKF) with expected fund size of close to $50 million.

“Through PKF, GPs will invest the funds of different limited partners in technology and related companies which have the potential to scale their business with an objective of generating target returns for investors,” read the notice.

Hum Network Limited

“The GPs shall work together and pool in their respective expertise to manage the said PKF and to set up Fund Management Company(ies) in any jurisdictions deemed suitable,” it added.

HUMNL was established in 2004 as a public limited company under the repealed Companies Ordinance, 1984. Its operations include launching transnational satellite channels and presenting content that is reminiscent of local culture. Some of its key divisions are production, advertisement, entertainment, and media marketing.

In FY22, the company witnessed the highest growth in revenue at over 39% to reach an all-time high of Rs6 billion. This was attributed to an increase in revenue coming from all divisions, particularly Hum News and the digital media sector which saw a growth of 133% and 84%, respectively.

The company has explored various avenues to diversify from the typical advertisement revenue from channels to advertisement revenue from the digital media sector. Despite this, the challenges from the external environment, such as inflationary pressures and expected higher taxation can impact future profitability.

At the time of filing, the scrip of the company was being traded at Rs6.65, down by 12 paise (1.84% DoD).

Comments

Comments are closed.

Rebirth Oct 20, 2022 04:30pm
No other channel out of more than 50, including Aaj ever considered going public. Even when our markets were included in MSCI’s emerging markets. Almost all of these media companies have multiple channels, which include news and also, entertainment. In fact, some even have newspapers. Not a smart idea running a newspaper for business and devoting a section specifically for the financial markets but not partaking in any business activities yourselves.
thumb_up Recommended (0)

Hum Network to launch $50mn Pakistan Katalytic Fund

Rupee closes at fresh low of 269.63 against US dollar as the great fall continues

KSE-100 falls over 500 points in aftermath of Peshawar blast

Pakistan facing adverse consequences of Ukraine conflict: FM Bilawal

Islamabad Court sends Fawad to jail on judicial remand

SBP says it recognises cost of monetary tightening, but curbing inflation essential

Inflation to cross 30% as rupee depreciation, petrol prices bite: report

Oil slips as rate hikes loom and Russian flows stay strong

UAE president’s visit to Islamabad postponed over ‘bad weather’

Sheikh Rashid’s Lal Haveli residence sealed over ‘illegal occupation’

Asif Ali Zardari sends legal notice to Imran Khan over ‘assassination’ remarks