Pakistan’s IPO Milestone: Records Set for PSX on June 16, 2026

REWRITTEN BLOG DETAILS

Pakistan’s Star Tyre Firm Launches IPO on PSX
Mettis Global Marks Major Milestone

A significant development in Pakistan’s capital markets came as Service Long March Tyres Limited successfully completed its Initial Public Offering (IPO) on the Pakistan Stock Exchange (PSX). The listing underscored the company’s rising influence and set a new benchmark for investor participation in the country’s equity market.

The IPO attracted unprecedented attention during both the book-building and public subscription phases, with approximately 35,565 applications filed, the highest ever in the country’s IPO history. The total value raised during the transaction reached around Rs7.78 billion, marking the largest IPO in Pakistan’s history.

Normalized rates at Rs14.25 per share fueled strong demand, with the floor price potentially reaching as high as Rs19.95, expanding the transaction size to over six times the original estimating floor price. By the final moments, shares were fully subscribed within mere minutes, with retail participation further amplifying demand.

The offering comprised 389,738,038 ordinary shares, representing a 5% stake in SLM’s post-IPO capital. Companies were able to raise substantial funds, while retailers secured over sixfold participation from a broad base of investors. A 5% reallocation of shares from the book-building phase enhanced liquidity and investor confidence.

The listing drew contributions from a diverse range of investors, including commercial banks, mutual funds, and international institutions. Industry leaders endorsed the move, with Finance Minister Muhammad Aurangzeb citing momentum from recent federal budget decisions. He highlighted Pakistan’s trajectory of steady growth, pointing to 11 IPOs approved in the current fiscal year.

Tech-savvy institutions and institutional investors rallied to support Service Long March, which emerged as a top-performing tyre manufacturer globally. Chinese investors were encouraged by the cooperation under the China-Pakistan Economic Corridor, contributing technological expertise and bolstering confidence.

PSX Managing Director Farrukh H. Sabzwari praised the listing as a pivotal event, noting the country’s resilience despite global challenges and viewing PSX’s capitalization as reaching Rs21 trillion. He called for further investor participation to sustain momentum.

SECP Commissioner Ali Farid Khwaja emphasized the listing’s reflection of investor confidence, aligning it with Pakistan’s ongoing economic growth strategies. Commissions reiterated its dedication to enhancing transparency and market transparency.

With record-setting participation, the IPO is seen as a catalyst for attracting more institutional and retail investment. Analysts worldwide are already projecting positive returns for stakeholders.

This event reinforces Pakistan’s growing confidence in its equity markets and the vital role of robust listings in fostering sustainable economic development.

Pakistan’s IPO Milestone: Records Set for PSX on June 16, 2026
[Credit: Press Coverage]

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