KARACHI: JS Global will act as a consultant and bookbuilder to Airlink Communication Limited, bringing it to the capital market in the largest IPO ever, valued at 6 billion rupees, a statement said.
Airlink Communication Ltd, a cell phone distributor in Pakistan, recently ventured into manufacturing for Transsion Group China. As a vertically integrated company, it also has retail stores for selling top international smartphone brands such as Samsung, Apple, Huwawei, Xiaomi, Itel, Techno, TCL and Alcatel.
The company would sell 90 million shares at a base price of Rs 65 / share.
Airlink’s revenue rose from 140 million rupees in 2012 to over 47 billion rupees in 2021, showing unprecedented growth as e-commerce and digitization continue to expand rapidly. All major smartphone manufacturers such as Samsung, Itel, Tencho, Infinix, TCL and Alcatel would now be assembled in Pakistan. Xiaomi, the largest smartphone manufacturer in the world, would also soon start assembly in Pakistan.
Not only are these big brands planning to venture into Pakistan to meet the needs of the fifth largest population, but also want to start exporting within the next 12-24 months, which bodes well for the country’s economy.
“We have seen equity markets flourish over the past 12 months and it is expected that the markets will see more IPOs and liquidity in the coming days due to the improving macroeconomic situation,” the statement added.