Select Technologies is set to raise Rs3.02 billion through its initial public offering (IPO) at the Pakistan Stock Exchange (PSX), with shares priced at Rs34 per share during recent bidding.
The technology firm will sell 88.88 million shares at Rs34 per share to public investors, with trading set to begin in July 2026.
As a wholly owned subsidiary of Air Link Communication Limited, the proceeds will primarily establish an AC manufacturing facility in Sundar Green Special Economic Zone, aiming to boost production capacity and product diversity.
During the two-day Dutch bidding, the share price rose 21.43% from Rs28 to the target of Rs34, capping at Rs42 per share. Institutional and high-net-worth investors contributed Rs2.26 billion via 66.66 million shares, while retail sales of 22.22 million shares at Rs34 will add Rs755.55 million by July 2026.
The funds will enhance AC manufacturing, expand TV production lines for large-scale models, invest in smartphone technology upgrades, and address working capital needs tied to inventory financing.
Arif Habib Limited’s CEO Shahid Ali Habib noted the IPO’s “3.23-time oversubscription,” highlighting investor confidence in the company’s strategic growth plans.
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