Pakistan\u2019s biggest telecom company Jazz plans to list on the Pakistan Stock Exchange (PSX).<\/p>\n
This was disclosed by Aamir Ibrahim, the CEO of Jazz, in response to a question during a media briefing. While Aamir did not disclose when the company plans to go public, he said that it was definitely on the cards.<\/p>\n
He disclosed that the reason for going public was not to raise capital but to help build capital markets of the country.<\/p>\n
\u201cWe have sources of capital elsewhere,\u201d he said. \u201cThe telecom company was considering going public so that the local investors could also benefit from our success.\u201d<\/p>\n
Aamir explained that going public was to show greater commitment to the country and to shun the image that foreign companies made money in Pakistan but took it outside of the country. So if the company went public, dividends could be paid to local retail and institutional investors.<\/p>\n
Jazz would also be able to retain its finest people and offer employees shares in the business if it went public.<\/p>\n
Jazz might overtake companies like Air Link to become one of the biggest initial public offerings (IPOs) in the history of the nation if it moves through with its proposal to list the business.<\/p>\n