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RESEARCH

  • Registered with the SECP as a Notified Research Entity.
  • Director Research has an extensive experience of over 13 years.
  • Topline research team is covering more than two third of Pakistan’s market capitalization. Besides large caps, analysis on mid and small caps is also done by Topline analysts.
  • Topline Research maintains extremely strong relationship with large and small corporates in Pakistan. This helps in arranging call and meetings with clients.
  • Topline analysts have been recognized as Best Analysts in Asiamoney Brokers Poll for consecutive years from 2014 to 2020.
  • Topline Securities received ‘Best Research House in Pakistan’ award by International Finance Award 2019 & 2020.
  • Research Team has won “Best Analyst” award from CFA Society Pakistan in 2016 and 2017. The team has also won CFA Society Pakistan’s “Best Economic Research” award in 2016, 2017 and FY2020.
  • Topline Securities’ research is actively quoted in leading local and international newspapers, newswires and magazines.
  • Topline Securities’ research reports are available on Bloomberg, Reuters & Capital IQ.
  • Topline Research key products include Strategy, Politics, Economy, Markets, Sector Research and Company Research.
  • Research products include:
    • Analyst briefing/ conference call notes
    • Coverage initiation
    • Company update
    • Daily and weekly market review
    • Economy
    • Politics
    • Recommendation change
    • Result reviews/previews
    • Strategy
    • Sector research
    • Target price and estimate change
    • Corporate meetings, conference calls, factory and company visits are regular feature at Topline Securities for analysts and clients.

EQUITY SALES

  • Topline Securities is classified as Trading and Clearing Securities Broker (top category) as per new broker regime introduced in Pakistan. Currently there are only 8 brokers in Pakistan that qualify for this top category.
  • Topline Securities is a registered broker with Pakistan Stock Exchange (PSX)
  • Topline Securities is an active player in Commodities, Ready Market, Derivatives Market (Future, MTS, MFS) and Bond trading
  • Topline Securities’ main clientele on the equity sales side emanates institutions, both local & foreign.
  • Topline Securities’ market share is one of the highest in foreign portfolio investment in Pakistan.
  • Topline is one of the largest broker in Pakistan based on Equity Broking.
  • Topline Securities’ equity sales also cater to the requirements of a large number of high net-worth clients along with large number of institutions.
  • Moreover, Topline is in top position in various Institutions in terms of business ranking.
  • Topline Securities’ equity sales team has executed a large number of block trades of more than PKR 50 billion over the last 5 years.
  • Topline Securities’ unmatched ability to provide timely, market-related intelligence and access to the corporate management is the distinct feature for its clients, keeping them abreast the latest developments and updates, thus translating into improved portfolio management on client’s part.
  • Topline Securities received ‘Best Salesperson’ award by Asiamoney in Pakistan for 9 consecutive years (2011-2019).
  • Topline Securities received ‘Best Trader’ award by Asiamoney in Pakistan for 6 consecutive years (2014-2019).
  • Topline Securities secured Best Trader/ Salesperson award 2009 by CFA Association. This was first such award secured by anyone in Pakistan.
  • Topline Securities has organized various Pakistan Corporate Day and Investment Conferences in Karachi, Lahore, Islamabad, London, New York, Dubai and at various other international financial hubs.

Virtual Conferences

  • The firm hosted a virtual Pakistan Conference in Jul-2020 where over 30 foreign fund managers participated, meeting 6 companies.
  • Topline also co-hosted Emerging and Frontier Market Conference with our foreign partner in Oct-2020, where Pakistan’s top 5 corporates participated and was attended by more than 40 fund managers
  • Topline also hosted Pakistan Mid Cap Conference 2021, where nine companies participated in Feb-2021, spread over three days
  • Topline arranged Pakistan IT Days Conference, where six top IT-related companies participated in Apr-2021, where more than 70 fund managers, both local and foreign, participated
  • Topline hosted a Pakistan Pharma Conference 2021, where four companies participated in Aug-2021, spread over two days

CORPORATE FINANCE & ADVISORY

  • Topline Corporate Finance (CF) team is a trusted advisor and arranger for leading local and international investors seeking investment opportunities in Pakistan and has emerged amongst the most active CF teams in the country.
  • Head of CF has an extensive experience of over 19+ years, both locally & internationally. Over the course of his career, he has under taken transactions worth US$6.0 Billion plus. Head of CF has dealt extensively with SECP, Competition Commission of Pakistan, Pakistan Stock Exchange, and as well as industry regulators.
  • Topline CEO has more than 25 years of experience in Pakistan’s capital markets, research and broking, placement & capital raising.
  • Topline’s Investment Banking Team has completed transactions worth PKR 74.77 Billion/ USD 600 Million in last five years.
  • Topline CF has extensive experience of raising working capital (both debt & equity) as well as advisory transactions including privatizations.
  • Topline CF helps clients develop and achieve their strategic objectives, and cater to their financial needs and assist them in achievement of plans.
  • Topline CF team members have worked on a large number of local & international corporate finance & advisory assignments.
  • Topline Securities is licensed by the Securities & Exchange Commission of Pakistan as a Consultant to Issue and Underwriter
  • Topline CF has teamed up with top tier global investment banks including Credit Suisse, Morgan Stanley, UBS and Nomura. Other leading international advisors that Topline has teamed up with include, Auerbach Grayson, EFG-Hermes, Dubai Islamic Bank (DIB), CIMB Investment Bank Berhad, Price Water House Coopers Pakistan (PWC) and KPMG.
  • Extremely cordial relations with major regional private equity players and financial institutions, allows Topline Securities to undertake equity & debt placements
  • Vast foreign clientele provides Topline Securities with an unmatched distribution capacity and access to leading international investors for corporate finance clients.

SELECT CORPORATE FINANCE TRANSACTIONS

  • PKR 6.8bn Initial Public Offering of one of the leading Pharmaceutical Manufacturer in Pakistan (On-going)
  • PKR 4.0bn Initial Public Offering of one of the largest Textile Composite company in Pakistan (On-going)
  • PKR 4.0bn Initial Public Offering of leading chemical manufacturing company in Pakistan (On-going)
  • PKR 1.2bn Initial Public Offering of one of the leading tubular steel company in Pakistan (On-going)
  • PKR 800mn Initial Public Offering on Growth Enterprise Market (GEM) of leading Information Technology company in Pakistan (On-going)
  • PKR 5000mn Sukuk Issuance of a leading Steel player (On going)
  • PKR 350mn Initial Public Offering on Growth Enterprise Market (GEM) of tech-enabled logistics company in Pakistan (On-going)
  • Mandated Joint Financial Advisor to Government of Pakistan for divestment of up to 10% stake of Pakistan Petroleum Limited (On-Going)
  • Sole Financial Advisor & Arranger for Islamic Commercial Paper of Mughal Iron & Steel Industries Limited worth PKR 2.0bn (2021)
  • Lead Manager for Initial Public Offering of CITI Pharma Limited worth PKR 2.3bn (2021)
  • Lead Consultant to Issue for the Initial Public Offering of The Organic Meat Company Limited (2021)
  • Manager to Offer to Bio-Exyte Foods Limited for the potential acquisition of more than 30% equity stake in Mitchell’s Fruit Farms Limited (2020)
  • Consultant to Issue for PKR 1.0 billion rights issue of Din Textile Limited (2020)
  • Arranger and Advisor for placement of 15% equity stake of TPL Insurance Limited (2020)
  • Financial Advisor to Vitol Group, Dubai for acquisition of additional shares of Hascol Petroleum Limited (2020)
  • Consultant to Issue for the right issue of Hascol Petroleum worth PKR 8.0 billion (2019)
  • Joint Consultant to Issue for the right issue of Maple Lead Cement Factory Limited worth PKR 6.0 billion (2019)
  • Consultant to Issue for the right issue of Unity Foods Limited worth PKR 3.98 billion (2019)
  • Financial Advisor to Noor Financials of Kuwait for divestiture of 15% stake of Meezan Bank Limited valuing USD 100 Million (2019)
  • Consultant to the Issue & Market Maker for Askari Bank Limited’s PKR 6 Billion Tier 1 Capital Term Finance Certificate (2018)
  • Joint Consultant to the offer for sale and self-listing of PSX worth PKR 4.5bn (2017)
  • Consultant to the issue for right issue of Merit Packaging worth PKR 403mn (2017)
  • Financial Advisor and Arranger for right issue of Hascol Petroleum worth PKR 3.9bn (2017)
  • Financial Advisor and Arranger for Commercial Paper of Crescent Steel worth PKR 800mn (2017)
  • Financial Advisor for the acquisition of a 40% equity stake of Pakistan Stock Exchange by Markhor consortium consisting of NASDAQ, DCE Partners, Kingsway and Bilbros (2017)
  • Financial Advisor for the acquisition of a 33% equity stake of Pakistan Mercantile Exchange by Markhor consortium consisting of NASDAQ, DCE Partners, Kingsway and Bilbros (2017)
  • Joint Financial Advisor for PKR 4bn rights issue of Pak Electron Limited. (2016)
  • Exclusive Advisor & Arranger for the 33% rights issue of Crescent Star Insurance Limited. (2016)
  • Exclusive Advisor & Arranger for the 7.9663% rights issue of Shifa International Hospitals Limited (PKR 1bn). (2016)
  • Exclusive Advisor & Arranger for Pre-IPO Private Placement of TPL Properties – PKR 500mn. (2015)
  • Joint Financial Advisor to Privatization Commission on the GoP’s divestiture from Multan Electric Supply Company Limited.
  • Joint Financial Advisor to Privatization Commission on the GoP’s divestiture from Peshawar Electricity Supply Company.
  • Lead Arranger & Advisor on PKR 500mn Commercial Paper issue of Pak Elektron Limited. (2015)
  • Furthermore, Topline Securities was the Lead Advisor for arranging land mark block trades including:
        • Bank Islami Pakistan (2020)
        • Kohinoor Energy (2020)
        • National Foods (2020)
        • Nestle (2019)
        • Meezan Bank (2019)
        • International Steel (2018)
        • Pakistan Stock Exchange (2018)
        • IGI Insurance (2017)
        • HUM Networks Limited (2016)
        • Abbott Pharmaceuticals (2016)
        • Pakistan Tobacco Company (2015)
        • Pak Elektron Limited (2015)
        • Unilever Pakistan (2013)
        • Muree Brewery (2013)
        • Thal Limited (2013)
        • Glaxo Pakistan (2013)
        • PICIC Growth Fund (2013)
  • Carried out International Steels valuation for public offer of PKR 1.3bn. (2018)
  • Liberty Mills’ share buy-back, advisory and voluntary delisting of PKR 6bn market cap company. (2013)

COMMODITIES

  • Topline Securities Ltd. is one of the leading broker in Commodities Trading which provides services to its clients under the umbrella of Pakistan Mercantile Exchange (PMEX).
  • Topline Securities Ltd. employs a highly experienced team of Commodity Traders and Marketing professionals.
  • By opening an account you have the opportunity of investing in Gold, Silver, Crude Oil, Currencies and Indices in Futures Trading of PMEX.
  • The investment in these would be backed by our research, recommendations and timely updates where clients are guided about the market dynamics.