Systems Limited offers shares to General Public

Systems Limited is holding Initial Public Offering for general public on 29th and 30th December, 2014. The general public portion is being offered after successful completion of the 9.75 million shares. The General public includes 3.25 million shares at minimum application for 500 shares.

Systems Limited was incorporated in 1977 and has business in IT sector. The share price was found through book building process in which the strike rate was found to be Rs. 40 per share. Applications can be made in 500 shares or in multiple of 500 shares.

AKD Securities Limited, Bank Alfalah Limited and Askari Bank Limited are the under writters of this general public portion issue. AKD Securities is the leading company which also run the book building portion.

The company has a strong presence in the IT sector in Pakistan. The company has good track history of earning revenue at 33% CAGR.

Applications can be submitted in the following banks on the aforesaid dates:

  • Askari Bank Limited
  • MCB Bank Limited
  • Bank Alfalah Limited
  • Samba Bank Limited
  • Faysal Bank Limited
  • Silk Bank Limited
  • Habib Bank Limited
  • Summit Bank Limited
  • Habib Metropolitan Bank Limited
  • United Bank Limited (also through online filing of application for shares through UBL NetBanking)

Most of the stock traders have positive stance and recommends “buy” on Systems Limited General Public IPO.