Select Technologies Limited (SELECT), a Pakistani manufacturer of smartphones and consumer appliances, has successfully completed its Initial Public Offering (IPO), becoming the first company to list on the Pakistan Stock Exchange (PSX) in the new fiscal year.
The company raised Rs. 3.02 billion through the IPO, making it one of the largest equity offerings in Pakistan’s technology sector. The offering comprised 88.9 million ordinary shares, representing 10% of the company’s post-issue paid-up capital.
The IPO was launched with a floor price of Rs. 28 per share, while strong demand during the book-building process pushed the strike price to Rs. 34 per share, reflecting a 21% premium over the floor price.
The offering attracted broad participation from commercial banks, mutual funds, insurance companies, investment banks, pension funds, brokerage firms, high-net-worth individuals, corporate investors, and retail investors, highlighting strong confidence in the company’s growth prospects.
The proceeds from the IPO will be used to expand Select Technologies’ manufacturing capacity, support product innovation, and strengthen its position in Pakistan’s consumer technology market.
Speaking at the listing ceremony, PSX Managing Director and CEO Farrukh H. Sabzwari welcomed Select Technologies as the first listing of the new fiscal year, describing it as an important milestone for Pakistan’s technology manufacturing sector.
He noted that FY2025-26 recorded 11 IPOs, the third-highest number in the past 25 years, raising approximately $66 million. During the year, the exchange also achieved record trading activity, with average daily traded value reaching around Rs. 57 billion, while the investor base expanded to more than 583,000 accounts.
Securities and Exchange Commission of Pakistan (SECP) Commissioner Zeeshan Rehman Khattak said the regulator remains committed to simplifying the listing process while maintaining strong investor protection standards. He added that Select Technologies’ listing reflects growing diversification within Pakistan’s economy and capital markets.
AirLink Communication Limited Chairman Aslam H. Piracha described the listing as a significant achievement for both Select Technologies and the AirLink Group, stating that it demonstrates investor confidence in the company’s strategy and commitment to corporate governance.
Select Technologies CEO Adnan Aftab said the successful listing marks an important milestone for the company and reinforces its focus on innovation, quality, and long-term value creation for shareholders.
Meanwhile, Arif Habib Limited CEO Shahid Ali Habib said the IPO received a strong market response, with the offering oversubscribed by 3.23 times and attracting participation from nearly 13,000 investors, reflecting increasing confidence in Pakistan’s capital markets.
