Karachi – Symmetry Group Limited (SYM), a leading digital technology company based in Pakistan, has announced a strategic partnership with Aleph Holdings, a prominent Dubai-based technology firm. The development was disclosed in a notice to the Pakistan Stock Exchange (PSX) on Monday, with Symmetry expressing optimism about generating approximately $5 million in additional business during the first year of the collaboration.
“Symmetry Group is excited to announce that it has entered into a partnership with Aleph Holdings, a UAE-based company providing ad tech solutions in over 140 markets,” read the official statement.
Aleph Holdings represents Spotify, the world’s largest digital music streaming platform with over 550 million monthly active users. The notice highlighted the significant growth of Spotify’s user base in Pakistan, signaling an opportunity for deeper engagement in the local market.
Market Impact
Following the announcement, Symmetry Group’s share price initially rose by Re0.80 or 3.26% to reach Rs21.99. However, the stock retreated later in the trading session, closing at Rs19.52, marking an overall decline of Rs1.67 or 7.88%, in line with the broader market downturn reflected in the KSE-100 index.
Expansion into the GCC Region
This partnership comes on the heels of Symmetry Group’s announcement in September 2023 to establish a wholly-owned subsidiary in the Gulf region. The subsidiary aims to facilitate the global launch and scaling of the company’s proprietary digital products.
Symmetry Group previously emphasized that the Gulf-based entity would bolster its credibility and unlock greater access to business opportunities across the GCC and international markets. The company also highlighted the subsidiary’s potential to enhance financial structuring, operational efficiency, and strategic investments while fostering partnerships and joint ventures.
About Symmetry Group
Symmetry Group Limited specializes in digital transformation, leveraging its expertise in areas such as digital strategy, artificial intelligence, digital commerce, data science, mobility, and interactive marketing. The company’s innovative approach has positioned it as a leader in reshaping critical business functions through technology.
