SLG first logistics company to list on PSX

The Pakistan Stock Exchange (PSX) is gearing up to host its inaugural company of 2024 on its trading platform this week. Secure Logistics Group (SLG), the pioneering logistics entity to be listed at the national bourse, is slated to offer 50 million shares at a minimum (floor price) of Rs12 per share. The objective is to raise a minimum of Rs600 million through the book-building process, following the stabilisation of the volatile political and economic landscape post-February general elections and the recent achievement of an International Monetary Fund (IMF) staff-level agreement. The company’s prospectus, available on the PSX website, articulates its primary goals for raising equity capital: to deleverage the balance sheet in a challenging high-interest rate environment, advance the company’s technological infrastructure to complete the Tech-Pivot initiative, expand into regional markets, and enhance fleet-related efficiencies. According to existing laws, the share price can increase by a maximum of 40% to Rs16.80 per share from the floor during the two-day bidding, potentially attracting up to Rs840 million.