Equity Analysis /
Pakistan

AirLink Communication: New IPO – Dominant player in the high-growth mobile market

  • Air Link has evolved significantly, where the revenue/net profits have grown at a CAGR of c.50%/30% during FY15-20

  • The company is offering 90mn shares in the IPO (60mn new shares) at the floor price of PKR65/sh

  • We recommend subscribing Air Link up to PKR73.0/sh, which can offer a potential upside of c.30%.

Intermarket Securities
26 August 2021