Service Global Footwear Limited (“SGFL” or the “Company”) has appointed Arif Habib Limited as the Lead Manager & Book Runner for its Initial Public Offering (“IPO”) of 40.89 million Ordinary Shares, representing 20% of the post-IPO Paid-up Capital at a Floor Price of PKR 38.0/- per share.

A brief overview of the IPO is provided herein below:

Shares Offered through Book Building:

40,887,500 shares

Floor Price:

PKR 38.0 per share

Maximum Price:

PKR 53.2 per share

Registration Dates:

9AM – 5PM (April 2nd to April 7th, 2021) & 9AM – 3PM (April 8th, 2021)

Bidding Dates:

April 7th, 2021 & April 8th, 2021 (both days inclusive) 9AM – 5PM

Minimum Bid Size

PKR 1.0 Million

Bid Collection Center:

Arif Habib Centre, Karachi

SGFL is a footwear manufacturing and selling company which was operating as an integrated unit of Service Industries Limited since 1988; it was demerged in 2019 into a separate entity.

SGFL is the largest footwear exporter of Pakistan since the last decade; in last two years, it has accounted for over 40% of the total leather footwear exports of the country. SGFL exports more than 95% of its total production; in CY2020, it exported footwear to 20+ countries over 5 continents.

The Company supplies footwear to global brands like Zara, Caprice, Diana Ferrari, Dockers, Jack & Jones, London Rebel, etc.

The principal purpose of the issue is to invest the amount raised as an equity in Service Long March Tyres Ltd. (“SLM”) and become a stakeholder of approximately 18.91% of the total shareholding of SLM. SLM is the first All Steel Radial Truck & bus (TBR) Tyre manufacturing unit in Pakistan, being setup through a JV between Servis Group and Chaoyang Long March of China.