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Investment Banking
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AKD Securities’ investment banking prowess is well established in the industry. Outside of the large domestic banks, we have consistently been ranked as the Number 1 underwriter and arranger of equity market transactions in the last three years. During 2004 and 2005, AKD Securities accounted for 29% of all equity underwritings in terms of value. In fiscal year 2004-05, we were the buy-side financial advisor to the strategic buyer in the privatisation of National Refinery Limited. This PKR 16.4 bn transaction was the largest privatization after Pakistan Telecommunications (PTC). AKD Securities was also the financial advisor to the Privatization Commission, Government of Pakistan, in the Offer for Sale of shares of United Bank Limited.
The success of a specialist investment banking house depends on three critical factors in the transaction life cycle:
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1) Origination Capability
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We have extensive contacts with existing and potential issuers across a wide spectrum of industry and business sectors.
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2) Structuring Capability
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Our analysts have in-depth industry knowledge, financial modeling and transaction structuring experience
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3) Placement Capability
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A wide network of institutional investor relationships as well as a large, diversified retail investor base provide us with an unmatched distribution capability
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The potential of Private Equity business is now becoming clearly discernable in Pakistan. AKD Securities has strong links with private equity funds in both the Middle East (GCC), as well as East Asia, and is in the process of structuring several innovative transactions using the private equity model. We have also developed requisite capacity to participate in the increasingly important Islamic Financing techniques that are just beginning to be seen in Pakistan. AKD Securities remains open to looking at new ventures and projects in order to provide cost effective and marketable financing transactions.
The accompanying list of successful investment banking transactions completed is evidence of the calibre and commitment of our Investment Banking Team.
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National Refinery Ltd. - Second Largest Refinery – Rs. 16,500 mn
• Financial Advisor to the Attock Oil Group of Companies for the Acquisition of 51% strategic stake in National Refinery Limited from the Privatization Commission
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Acquisition of Dhan Fibre by Dewan Salman Fibre Ltd. - Rs. 4,200 mn
• Financial Advisor and deal broker for the largest private sector acquisition in Pakistan’s history
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Maple Leaf Cement Factory Ltd. - Second Largest Cement Company – Rs. 2,161mn
• Joint Advisor and Underwriter for Rights Issue of Ordinary & Preference Shares
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United Bank Ltd. - Third Largest Domestic Bank – Rs. 1,093 mn
• Lead Manager to the Privatization Commission, Government of Pakistan, on the Offer for Sale of Shares of United Bank Limited by the State Bank of Pakistan
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Bank Alfalah Ltd. - Sixth Largest Domestic Bank – Rs. 1,000 mn
• Joint Underwriter for the Rights Issue
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Pakistan Services Ltd. - Largest Hotel Chain Operator – Rs. 700 mn
• Joint Advisor and Arranger of Term Finance Certificate Issue
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Attock Petroleum Ltd. – Rs. 540 mn
• Lead Manager and Lead Underwriter for the Offer for Sale of Shares
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Netsol Technologies Ltd. - Leading Software Developer – Rs. 350 mn
• Financial Advisor and Lead Underwriter for the Pre-IPO Placement and IPO
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Pakistan Intl. Container Terminal Ltd. - 1st Pvt. Cargo Terminal Operator – Rs. 300 mn
• Joint Advisor and Underwriter for Rights Issues of Ordinary and Preference Shares
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