The Symmetry Group Limited has announced that it has received approval from the Securities and Exchange Commission of Pakistan for its initial public offering (IPO), said a statement.
“The company has received approval for listing on the main board of the Pakistan Stock Exchange, paving the way for its IPO,” it added.
The IPO will be conducted by the ‘Book Building’ method of offering, where shares are allotted to investors on the Dutch auction method. The offering, the statement said will consist of 101.24 million shares obtainable at a floor price of Rs4.25 per share, including a fresh capital raise of Rs375 million.
The company sponsors, Sarocsh Ahmed and Adil Ahmed, will offer shares worth Rs55 million.
Symmetry Group is a leading player in the digital industry and has been at the forefront of transforming and digitalising marketing, sales, and other consumer-centric functions for organisations.
“Symmetry Group is driven by its pioneering legacy of transforming possibilities for businesses and organisations for over two decades,” said Symmetry Group CEO Sarocsh Ahmed.
“Our customers trust our creativity, innovation, and expertise in producing ground-breaking digital experiences. As we expand our capabilities and strengthen our core, our talented team sustains the trust of our stakeholders,” he added.
Ahmed, who is also the company’s co-founder, is of the view that from digital integration to a reimagined suite of transformative products and services, partnership with them allows businesses to “unlock their true potential”.
With aggressive local and global growth plans, Ahmed claimed that the IPO boosts the group’s financial standing, enabling it to develop cutting-edge, AI-driven products and intellectual properties.
“We see this as a reflection of the potential of the digi-tech sector. Together, we can accelerate the growth of Pakistan’s tech industry, fostering innovation and creating opportunities. Symmetry Group is committed to driving forward, shaping a future with infinite possibilities transformed,” he added.
Symmetry Group recently announced its new Board of Directors, led by Zaheer Hussain Dhodia as Chairman.
The board includes Musharaf Hai, Muhmmad Najeeb Agrawalla, Jibran Jamshad, Syed Asim Zafar along with Executive Director and Co-Founder Adil Ahmed, and CEO Sarocsh Ahmed.
Since its inception over two decades ago with an investment of Rs150,000, Symmetry Group has emerged as a digital industry leader in Pakistan.
The company offers a comprehensive suite of digital brands and products to assist clients at every stage of their digital journeys, with its expertise in digital strategy, transformation, digital commerce, data science, mobility, retail/research, and interactive marketing.
Symmetry Group’s transformative solutions have benefited renowned organisations such as Jazz, Habib Bank Limited, Procter & Gamble, EFU Life Assurance, Digicel (Caribbean), English Biscuit Manufacturers, Martin Dow, Jubilee Life Insurance and many others.
