Presentation of Special Awards for IPO Market Contributions.

advertisement
IPO MARKET CONTRIBUTION AWARDS
JANUARY | 31st | 2014
MÖVENPICK HOTEL, KARACHI
THE PREMIER IPO MEETING PLACE
www.safe-asia.com
Securities and Exchange Commission
of Pakistan
IPO Market Regulatory Facilitation Award
SECP has always supported and facilitated initiatives relating to development of capital
market. In the recent past, SECP has taken various steps for the development of the IPO
market. These steps include Introduction of the e-IPO facility, Introduction of the Book
Building mechanism, e-dividend option, Issuance of SECP Listing Guide Book, Regulations
for issuance of Commercial Paper, Regulations for Listing of SMEs, constitution of Shariah
Advisory Board and formulation of regulations of issuance of Sukuk etc. SECP continues
to strive for the facilitation of small and large enterprises to encourage growth and
expansion at all levels through capital markets. SECP is active member of various
international and regional forums like IOSCO, International Association of Insurance
Supervisors (IAIS) and International Organization of Pension Supervisors (IOPS). SECP is
also member of the Organization of Islamic Cooperation's (OIC) Committee for
Commercial and Economic Cooperation (COMCEC) and the current Chair of the South
Asian Securities Regulatory Forum (SASRF). Through international affiliation and other
self-assessment endeavors, SECP is striving to ensure that we are abreast with international
regulatory practices within the securities industry.
www.safe-asia.com
K-Electric Limited
Islamic Instrument IPO Award
K-Electric Limited (formerly known as Karachi Electric Supply Company Limited) is at
present the only vertically-integrated power utility in Pakistan that manages the generation,
transmission and distribution of electricity to Karachi.
Set up under the Indian Companies Act of 1882 as the Karachi Electric Supply Corporation
– KESC, the entity was nationalized in 1952 but re-privatized on November 29, 2005. It
came under new management in September, 2008. At this point, it was transformed into a
profitable entity and is today a globally recognized example of an unprecedented turnaround
with a new brand name of K Electric.
In continuation with its vision and after the tremendous success of AZM Certificates in
2012, KE is launching the First Listed Sukuk (KE AZM SUKUK) in Pakistan of Rs. 6
billion. The Sukuk will be offered in three tenors (13 months, 3years and 5 years). Each
Sukuk is rated A+ by JCR-VIS and Islamic International Rating Agency. KE believes that
this issue will pave way for development of our Capital Market for Islamic Instruments.
www.safe-asia.com
Treet Corporation Limited
Innovative Instrument IPO Award
Treet Corporation Limited made history by raising capital with a difference and introducing
Participation Term Certificate (PTC) with exceptional features. The PTC were offered to
existing shareholders through “Renounceable Offer Letter (ROL)” was and resultant
instrument [i.e. PTC] is tradable at trading terminals of all three Stock Exchanges. The issue
size of the transaction was Rs. 1,255 million and the Profit payments are not based on
KIBOR but linked to profitability of the Company.
Payout is based on three factors i.e. Ordinary Shares of the Company, Minimum Cash
Payments, Participation in Profitability of the Company. PTC were issued for 7 years with
Tax efficient structure and easy entry and exit. Entitlements remain intact even with
principal reduction each year. Despite debt instrument TCL successfully managed to
mitigate Financial Risk of the Company in Seven years thus creating value for the
Shareholders, the PTC holders and the Company. With Minimum investment size of just
Rs.30 for One PPTC, individual investors could start Investing with minimal investment
capital. Presently, the PTC can be purchased at market rate in the secondary market.
www.safe-asia.com
Habib Bank Limited
Lead Manager & Financial Advisor of the Year 2013 Award
Habib Bank Limited (“HBL”) has played a vital role in the revival of capital market listings
in Pakistan by successfully closing 2 out of a total of 3 IPOs conducted during the year.
HBL was the Exclusive Financial Advisor and Lead Arranger to Avanceon, a first of its kind
company to be listed on the stock exchanges. HBL attracted diversified investor interest,
breaking the recent market cliché of promoting brick and mortar companies.
HBL was also the Joint Financial Advisor and Arranger to Engro Fertilizers Limited, the
largest IPO of 2013 and one of the most successful listing in the history of Pakistan Capital
Markets (oversubscribed by 3.8 times).
HBL continues to promote & develop local capital markets landscape, as evident from the
upcoming KE retail Sukuk - “first retail sukuk” in the local market in which HBL is the
exclusive financial advisor and HBL Islamic banking is the shariah structuring advisor .
Further retail TFCs/Sukooks, and IPOs are already in the works for the coming year.
www.safe-asia.com
Allied Bank Limited
Lead Manager & Financial Advisor of the Year 2013 Award
ABL has been playing an active role in development of IPO markets of Pakistan. Over the
years, the bank has been involved in various capital market transactions in the capacity of
Lead Manager, Financial Advisor and Lead Underwriter. Recently the bank has successfully
concluded IPO of Engro Fertilizers Limited as Lead Manager, Financial Advisor and
Underwriter which has received overwhelming response from the market. ABL has also
underwritten rights issues of numerous listed companies. Besides providing advisory and
underwriting services, ABL offers full suite of investment banking products which include
debt arrangement, project finance, M&As and other structured solutions. Due to proven
track record, in-depth understanding of markets and extensive experience in advisory and
arrangement services, ABL is a preferred choice of top tier corporates for investment
banking transactions.
ABL's Investment Banking performance has also been recognized both internationally and
domestically over the years by reputable bodies including Euromoney Magazine UK, The
Asset Magazine – Hong Kong, The Banker Magazine – UK and CFA Society - Pakistan.
www.safe-asia.com
AKD Securities Limited
Book Runner of the Year 2013 Award
AKD Securities Limited is ranked amongst the top corporate brokerage houses of the
country. It is also known as the pioneer for introducing the Book Building mechanism in
equity listings in Pakistan and has successfully acted as the Book Runner for 7 out of the
total 10 listings via Book Building with a promising 70% market share.
During the year 2013 AKD Securities Limited has successfully closed two of the most
anticipated and well acclaimed Book Buildings in the history of Pakistan's capital markets.
The Book Building of Lalpir Power Limited took place in June 2013 at a floor price of PKR
22/- per share and ended up being the highest ever over-subscribed Book Building by a
record 5.9 times.
AKD Securities acted as Book Runner for the IPO of Engro Fertilizers Limited at a floor
price of PKR 20/- per share. After three days of the Book Building exercise and with over
400 bids received, the floor price was determined at PKR 28.25/- per share. The Book
Building portion of Engro Fertilizers Limited was over-subscribed by 3.9 times.
www.safe-asia.com
Next Capital Limited
Book Runner of the Year 2013 Award
Next Capital was established in 2010 by renowned professionals and financial institutions.
Driven by the ambition to be one of the best financial services firm with focus on broking,
advisory and corporate finance, Next Capital has executed some landmark transactions.
With staunch belief in our capital markets, the company was inspired to go public in 2012.
Due to their experience and professionalism they were chosen by the Nishat Group to be
joint Lead Advisors for Lalpir Power. Playing a significant role in the execution of the
transaction, they were able to generate an overwhelming response from the investing public
and the issue was oversubscribed.
It was another source of pride for Next Capital to be selected as Joint Book Runner by the
Engro group. Once again they were successful in generating a huge response for the IPO.
Next Capital continues to look for suitable opportunities for further IPOs and are already
exploring some exciting deals.
www.safe-asia.com
Arif Habib Limited
Book Runner of the Year 2013 Award
Arif Habib Limited (AHL), one of the largest listed securities brokerage houses is
committed to providing the highest level of services to its clients. AHL is a part of the Arif
Habib Group, one of the largest conglomerate in Pakistan. The KSE very recently
recognized AHL's contribution to the market and has awarded it a “Top 25 Company” for
the year 2012. Being pioneers and dominant leaders in the Investment Banking industry,
AHL successfully executed 12 capital market transactions, introducing 8 new companies via
Initial Public Offerings to the Stock exchanges of Pakistan in the last 4 years.
AHL has executed a number of transactions in the debt market business, including the
listing of 5th Term Finance Certificate of Bank Alfalah Limited, one of the largest debt
transactions at the Karachi Stock Exchange. In 2013, AHL acted as book runner for
Avanceon Limited. On the basis of its strong structuring and execution capabilities, AHL
provides the most suitable investment and financing solutions for its clients and continues
to promote Pakistan's capital markets locally and beyond our borders.
www.safe-asia.com
UBL Fund Managers
Maximum Mutual Fund IPOs of 2013 by an AMC Award
UBL Fund Managers was established in 2001 as a wholly owned subsidiary of UBL Bank Limited.
UBL Funds have the privilege of being the first Asset Management Company in Pakistan to
introduce the Principal Protected Funds based upon the CPPI methodology of dynamic asset
allocation with up to 100% equity exposure.
The funds open in the form of IPO were
1.
UBL Gold Fund, Launched in February 2013
2.
UBL Financial Sector Bond Fund, Launched in March 2013
3.
UBL Islamic Principal Preservation Fund –I, Launched in April 2013
4.
UBL Principal Protected Fund-II, Launched in July 2013
5.
UBL Asset Allocation Fund, Launched in August 2013
6.
UBL Islamic Principal Preservation Fund-II, Launched in October 2013
7.
UBL Islamic Asset Allocation Fund, Launched in December 2013
We also have to credit the fact that UBL Funds is the first AMC to become GIPS compliant which
entails meeting international standards of Fund Management in targeted savings like children
education, marriage, haj vacation, wealth building, equity building and retirement.
www.safe-asia.com
Al Meezan Investment
Management Ltd.
Maximum Mutual Fund IPOs of 2013 by an AMC Award
Al Meezan Investment Management Limited is the only and largest full-fledged Sharia'h Compliant Asset
Management Company of Pakistan. In this endeavor, Al Meezan launched three funds in 2013;
1. Meezan Financial Planning Fund (MFPF), Pakistan's first Fund offering allocation plans suited to diverse
investor specific risk profiles. Currently the fund stands over PKR. 780 million.
2. Meezan Balanced Fund (MBF), a balance between equity and fixed income. Currently the fund size
stands over PKR 1,800 million.
3. Meezan Capital Preservation Fund (MCPF) whose IPO ends today (Jan 31), utilizes the Constant
Proportion Portfolio Insurance (CPPI) strategy of asset allocation and provides investors Shariah compliant
maximum upside alongwith preservation of capital. The fund size is about PKR. 2,000 million, making it
the largest capital preservation fund in Pakistan.
With widespread acceptance in all three IPOs, Al Meezan Investment Management is being presented an
Appreciation Award for Maximum IPOs by an Asset Management Company. Al Meezan promises to
continue to deliver value generating solutions for Sharia'h Compliant investment avenues.
www.safe-asia.com
THANKS
www.safe-asia.com
Download