Karachi, Secure Logistic Group Limited (SLG) has utilized a significant portion of its equity capital raised through its recent Initial Public Offering (IPO) to repay existing debts. According to the latest corporate announcement, the company has allocated Rs981,203,671, which constitutes 82.8% of its total IPO and pre-IPO proceeds, towards the full settlement of various debt facilities.

This strategic move has shifted the company’s proforma debt/equity ratio to 10.77%. SLG expects these actions to reduce the overall financial cost, projecting a savings of Rs132,233,458 in total mark-up by the end of December 2024. This financial maneuver is anticipated to positively impact the company’s earnings per share (EPS) by Rs0.48.

The Pakistan Stock Exchange has been informed of these developments and is expected to disseminate this information to relevant stakeholders, including prospective shareholders, by posting this update on the Notice Board and via their automated information systems.