Secure Logistic utilizes 82.8% of IPO proceeds

News Image

MG News | April 23, 2024 at 09:46 AM GMT+05:00

0:00

April 23, 2024 (MLN): Secure Logistic Group Limited (PSX: SLGL) has utilized Rs981.2 million or 82.8% of the total pre-initial Public Offering (IPO) and IPO proceeds to pre-pay and fully settle different debt facilities, the company's filing on PSX revealed. 

The amount is out of the aggregate equity capital raising of Rs1.184 billion through pre-IPO and IPO. Accordingly, the proforma debt/equity ratio is calculated to be 10.77%.

Resultantly, based on the current weighted average borrowing rate of the paid facilities, the company is expected to save a total markup of Rs132.23m through December 31, 2024, with an EPS impact of Rs0.48 per share.

The company made its debut on the local bourse yesterday.

SLGL was previously named Asia Capital Partners (Pvt.) Ltd (ACPL) and was incorporated in 2013.

The primary purpose of the equity capital is to deleverage the balance sheet in an unprecedentedly high-interest rate environment, enhance the company’s infrastructure technology base to complete the tech pivot, initiative expansion into the regional market, and other fleet-related efficiencies.

The company operates Logistics Business, Asset Tracking services, and Security services business segments.

Logistics business including long-haul and distribution (short-to-medium haul) segments covering the transportation of goods across the country.

The existing long-haul segment includes bulk (coal, cement, fertilizer, etc.) and containerized cargos (food, appliances, textile, packaging material, etc.) which is served by prime movers and trailers and caters to long-distance.

At the time of writing, the scrip of the company is being traded at Rs11.90, down by 20 paisa or 1.65% DoD. 

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 150,975.48
442.00M
0.67%
1004.36
ALLSHR 92,750.10
1,078.15M
0.32%
297.35
KSE30 45,968.76
167.03M
0.69%
313.73
KMI30 216,413.28
173.49M
0.58%
1258.11
KMIALLSHR 61,990.25
510.08M
0.16%
98.72
BKTi 41,875.31
192.40M
0.74%
308.16
OGTi 30,482.67
13.96M
0.16%
48.74
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,935.00 111,395.00
107,790.00
1160.00
1.07%
BRENT CRUDE 68.38 69.53
68.05
0.23
0.34%
RICHARDS BAY COAL MONTHLY 89.50 89.50
89.50
-0.20
-0.22%
ROTTERDAM COAL MONTHLY 96.50 96.50
96.25
0.05
0.05%
USD RBD PALM OLEIN 1,106.50 1,106.50
1,106.50
0.00
0.00%
CRUDE OIL - WTI 64.85 66.03
63.66
0.84
1.31%
SUGAR #11 WORLD 16.21 16.52
16.15
-0.16
-0.98%

Chart of the Day


Latest News
September 02, 2025 at 05:49 PM GMT+05:00

Online loan apps charging up to 1,800% interest


September 02, 2025 at 05:22 PM GMT+05:00

CCP secures partial recovery in ICH penalties


September 02, 2025 at 04:15 PM GMT+05:00

Cement despatches rise over 12% in August 2025


September 02, 2025 at 04:09 PM GMT+05:00

Flash floods ravage Punjab, destroying crops


September 02, 2025 at 04:04 PM GMT+05:00

PSX Closing Bell: A Step Up



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg