Systems Limited announces investment in Retailistan to take on Pakistan's digital retail market - Press Release issued by Systems Limited.

Karachi -- May 31, 2021 (PPI-OT)

Following is the text of press release issued by Systems Limited

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In a bid to further solidify its footing in Pakistan's highly promising digital retail landscape, Pakistan's premier technology organization Systems Limited has announced its plans to invest in retail technology company Retailistan Private Limited (RPL).

After completing their due diligence for acquiring a minority stake in Retailistan, the case was presented to the Systems Limited Board on May 28, who approved the acquisition of 20 percent of RPL's shares valuing at Rs. 468 million. The Board authorized the investment through Systems Ventures - the wholly-owned subsidiary of Systems Limited.

"The investment is aimed at enhancing our presence in the digital retail landscape of Pakistan," said a Systems Limited representative in a statement issued at the Pakistan Stock Exchange earlier today, further adding that the investment will "provide Systems access to potential synergies in technologies and access to digital mapping of the retail...