Secure Logistics Group IPO Oversubscribed

Secure Logistics Group (SLG) has become the first Initial Public Offering in the logistics sector on the main board of the Pakistan Stock Exchange (PSX). The issue size of Rs. 600 million was oversubscribed with a strike price of Rs. 12 per share, according to Arif Habib Limited (AHL). AHL was the lead manager and bookrunner for the issue. A well-rounded participation was observed, with institutions accounting for 76 percent and high net-worth individuals for 24 percent of the total. Amongst institutions, financial institutions and mutual funds contributed 27 percent while Corporates & Others (49 percent). Pre-IPO capital raise was Rs. 585 million led by existing institutional shareholders i.e. Saudi Bugshan Group and Karandaaz Pakistan translating into a total capital raise of Rs. 1.19 billion. Secure Logistics Group (SLG) is the pioneering logistics entity to be listed at the PSX. The company intends to develop an integrated technology platform to optimize the efficiency of its ‘in-house’ operational assets. This platform will facilitate real-time reservation of transportation assets, allocation of warehousing space, tracking of cargoes, and invoicing. SLG is an integrated logistics company with three distinct yet complementary business lines: logistics, asset tracking, and security services. With a nationwide presence, the company serves nearly 125 corporate clients across all three sectors.