Pakistan Stock Exchange organized a gong ceremony to mark the first listing of the new fiscal year 2026-27 on Monday as Select Technologies Limited has successfully completed its Initial Public Offering (“IPO”), raising Rs 3.02 billion.
Select Technologies completes Initial Public Offering, raising Rs 3 billion
KARACHI, Jul 13 (APP): Pakistan Stock Exchange organized a gong ceremony to mark the first listing of the new fiscal year 2026-27 on Monday as Select Technologies Limited has successfully completed its Initial Public Offering (“IPO”), raising Rs 3.02 billion.
Select Technologies Limited (“SELECT”), a leading Pakistani technology company engaged in the manufacturing and assembly of smartphones and consumer appliances, received a strong response from investors during both the Book Building and General Public Subscription phases, said a statement issued here.
The IPO comprised 88.9 million ordinary shares, representing 10% of SELECT’s post-issue paid-up capital and raised Rs 3.02 billion. The IPO floor price was set at Rs 28.00 per share but following healthy demand during the Book Building process, the strike price was discovered at Rs 34.00 per share, representing a 21% premium over the floor price.
The IPO attracted participation from a diverse range of investors, including commercial banks, mutual funds, insurance companies, investment banks, pension and employees’ funds, brokerage houses, high-net-worth individuals, corporate investors, and retail investors.
Managing Director and CEO of PSX, Farrukh H. Sabzwari, welcomed Select Technologies Limited to the Pakistan Stock Exchange, saying that Select’s listing follows a landmark year for the Exchange which delivered 11 IPOs and raised US$ 66 million while average daily traded value reached an all-time high of US$ 205 million across 537 listed companies.
Market capitalization reached a market cap of Rs 20.20 trillion at close of FY26 while the investor base reached an all-time high of 583,052 accounts, with around 16,000 new accounts opened each month at an average, he noted.
Commissioner Securities and Exchange Commission of Pakistan Zeeshan Rehman Khattak stated that IPOs are a true growth path for companies and the SECP was committed to make the listing process seamless.
We continue to balance regulatory requirements with investor protection, while encouraging forward-looking sectors to access the capital markets, he vowed.
Chairman, AirLink Communication Limited, Aslam H. Piracha termed the successful listing a reflection of strong investor confidence in the company’s strategy and capabilities and expressed commitment to the highest standards of governance and transparency.
Chief Executive Officer, Select Technologies Limited, Adnan Aftab, calling the listing of Select on PSX as a proud moment for his entire team, said that they aimed to deliver sustainable long-term value to the shareholders with focus on innovation, quality, and customer trust.
Chief Executive Officer of Arif Habib Limited, Shahid Ali Habib, stated that the strong response from both institutional and retail investors resulted in a 3.23 times oversubscription and the IPO witnessed participation from around 13,000 investors.
