Lahore, Pakistan - Dec 8, 2014 – Systems Limited, a leading Technology and Business Process Outsourcing company, completed the first step of its Initial Public Offering (IPO) through Book Building process on Friday, Dec 5, 2014. Thirteen million shares are on offer for the entire IPO and of these 9.75 million shares were allocated through a book building exercise aimed at price discovery.
The shares of Systems Limited were offered to institutional and high net worth investors at a base price of Rs. 25 per share and an upper band of Rs. 40 per share, as approved by the Securities Exchange Commission of Pakistan (SECP). In total the order book was 3 times oversubscribed at top end of the range for the investor’s tranche. As a result all shares on offer for the book building were purchased at the upper band of Rs. 40 per share.
Aezaz Hussain, Chairman, Systems Limited said: “The overwhelming response from investors to the offering has surpassed our greatest expectations and is testament to the confidence in Systems Limited. We welcome all the new shareholders to Systems Limited and look forward to creating value for them as we continue to grow and develop as a listed company.”
“I would like to express my gratitude and appreciation of our investment advisor AKD Securities and the Stock Exchanges for their support in ensuring that this groundbreaking offering was an unprecedented success”, said Asif Peer, CEO, Systems Limited. He also mentioned: “The second phase, expected by end Dec 2014 would be offering a further 3.25 million shares to the general public at the book building price of Rs. 40 per share. We are hoping for an equally keen participation by the general public”.
About Systems Limited
Systems Limited, founded in 1977 is the leading global Technology and Business Process Outsourcing service provider, delivering innovative business solutions and technology-led BPO services. With over 2,000 employees globally, our people help customers around the world maximize their IT investments and create specialized solutions that drive business results. These solutions leverage our deep technical skills, accelerators, frameworks and products, industry best practices, and domain expertise to ensure they achieve the business goals and creative competitive advantage for our customers.
Systems Limited brings industry insights and the business acumen focused on helping its customer achieve a high ROI, offers enterprise mission-critical software solutions, and brings a deep technology-agnostic skill set which remains unmatched in the industry. By delivering on hundreds of projects, we have developed industry-specific offerings and cross-industry offerings, plus a suite of tools and accelerators that enable our customers to realize business benefits father with increased efficiency and lower overall IT costs.
The winning combination of our people, best-in-class technology, innovative business practices and value-added global alliances help us team up with corporate and public sector to deliver value by producing a significant return on our clients’ investments.