KARACHI: Supernet, a subsidiary of Telecard Limited, up for an initial public offering, is targeting to serve national, as well as international cyber-security needs.
With the increase in digitalisation and automation, the demand for IT infrastructure and cyber-security challenges have increased manifold.
Globally the year 2020 broke all records when it came to data lost in breaches and sheer numbers of cyber-attacks on the companies, government, and individuals.
“We continue to see an increase of cyber breaches and attacks in 2022, as well,” Jamal Nasir Khan, CEO of Supernet said in an interview with BOL News.
“This is a high growth area, as we see record cyber-security breaches globally. We also see infrastructure demand in Pakistan increasing phenomenally. We are serving international customers through our Dubai office and have plan to start offering offshore cyber-security and infrastructure solutions and services, as well.”
Speaking about the upcoming initial public offering, the Supernet CEO said: “We have applied to [the] PSX [Pakistan Stock Exchange] for listing and the application is in advance stage of the whole process.”
The management believes this to be the right time for the shares sale, as the markets across the world are valuing the companies who belong to new economy, i.e., technology-oriented businesses.
The tech company valuations have ballooned to over $35 trillion: a figure that places their combined value as higher than the whole of the US $20.81 trillion GDP in 2020, according to a new research from Dealroom.
The brace of investment reports put a fresh spotlight on the strong appetite for the technology companies among investors. Pakistani startup investment in 2021 reached $375 million, twice as much as in the last six years combined, while the startups are valued at $1.5 billion.
“[A] few months ago, we have seen IPOs of Octopus Digital and AirLink (both technology companies) with oversubscription and [the] market is still valuing shares of these companies at very high price earnings multiples. We also see similar valuations in other already listed technology stocks, compared with old economy stocks,” Jamal Nasir Khan, CEO of Supernet said, in an interview with BOL News.
A growing economy with more connected digital businesses, e-commerce ventures and startups will continue to drive the demand of highly connected households and businesses for high capacity links and digital infrastructure, driving up online transactions.
“Supernet is well-positioned to take advantage of this growth with the products and services aligned for all ICT needs of the businesses. We see high demand for cyber-security solutions and services, power solutions, solar solutions along with the connectivity needs and we are well-positioned to satisfy this demand,” Jamal Nasir Khan, said.
“We see [a] lot of growth in fibre and satellite-based connectivity to deliver high-speed and high capacity Internet. 5G will accelerate this process.”
With the increased focus of the government on IT, digitalisation and online services; and increasing IT exports, Khan foresees tremendous growth in the sector, which is very evident with the yearly growth in IT exports.
“GoP [the government of Pakistan] has approved [the] Digital Pakistan Policy along with [the] National Cyber-security Policy, clearly providing policy direction for improving digital infrastructure and cybersecurity policy and its regulatory enforcements for all sectors to attract foreign investment.”
Focus on incubating startups in the last five to six years have started showing its dividends. This growth will continue and indicates local and international investors’ appetite for the technology-related stocks with improving digital infrastructure.
Supernet and its subsidiaries SuperSecure, SuperInfra and SES are part of the growing IT and Communication industry. Having a large portfolio of customers ranging from enterprise, banking, telcos, government and defence sectors, in 2019 the group established two dedicated companies SuperInfra and SuperSecure as subsidiaries of Supernet to provide IT infrastructure and cyber-security solutions to the customers.
Supernet has competition in the connectivity area from Wateen, PTCL, Cybernet, JAZZ and Multinet, etc. “We don’t see many companies in the cyber-security area except two to four major players in Pakistan.”