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JS Bank to invest in telecom and tech sectors

Renowned financial corporation, Jahangir Siddiqui & Co Limited, is investing Rs. 4 billion in the telecommunication, technology and media sectors in Pakistan. The investment has been made in the subordinate JS Infocom which focuses on the business and operations of the group in the three said sectors in Pakistan and overseas.

According to shareholding officials, the board of directors of the company has approved an investment on the long run, in its completely owned subsidiary Js Infocom Limited in telecommunication, technology and media sectors.

The investment will made via different ways and opportunities including the raise in Term Finance Certificates (TFC) of worth Rs 2 billion; equity investment of upto Rs 1.5 billion by the payment of right shares that will be offered by the JS Infocom; and through loaning of Rs 500 million from banks.

The reason behind this huge investment relates to the telecom companies that have become very attractive for the local investors who usually bring investment from their headquarters and meet their capital expenditure through government borrowings.

Similarly, large and medium scale IT companies and even startups having local and foreign customers are profitable investment opportunities for local investors like Jahangir Siddiqui & Co Limited. It is reassuring for local IT companies to work with such large financial group on different projects to attend local and foreign markets.

 

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Hey, I'm Isra Shams, the Managing Editor at Brands Magazine & FHM Pakistan. My passion is writing and I want to make a difference in the world with the power of the pen!