Select Technologies Limited (“Select”) Successfully Completes Initial Public Offering, Raising PKR 3.02 Billion.

Select Technologies Limited (“SELECT”), a leading Pakistani technology company engaged in the manufacturing and assembly of smartphones and consumer appliances, has successfully completed its Initial Public Offering (“IPO”), receiving an overwhelming response from investors during both the Book Building and General Public Subscription phases.

The high-profile IPO successfully raised PKR 3.02 billion, making it one of the most notable equity offerings in Pakistan’s rapidly expanding technology sector. The offering comprised 88.9 million ordinary shares, representing 10% of SELECT’s post-issue paid-up capital.

Premium Strike Price Discovered via Book Building

The IPO floor price was originally set at PKR 28.00 per share. Following healthy demand and institutional bidding during the Book Building process, the final strike price was discovered at PKR 34.00 per share, representing a solid 21% premium over the initial floor price.

According to Arif Habib Limited, the lead manager for the transaction, the IPO witnessed an overall 3.23x oversubscription and drew participation from around 13,000 distinct retail and institutional investors. The subscriber base included commercial banks, mutual funds, insurance companies, investment banks, pension funds, brokerage houses, and high-net-worth corporate entities.

Unlocking Capital for Local Manufacturing

The proceeds raised through the IPO will directly support SELECT’s strategic growth initiatives, including expanding its local manufacturing capabilities, strengthening product innovation, and accelerating import substitution for high-quality “Made in Pakistan” smartphones and consumer tech.

SELECT operates as a key subsidiary of the AirLink Communication Limited group, capitalizing on the rising domestic demand for locally assembled mobile hardware and consumer electronics.

First Listing of the New Fiscal Year

The traditional Gong Ceremony at the Pakistan Stock Exchange (PSX) marked the official first listing of the newly commenced fiscal year. Speaking at the ceremony, PSX Managing Director & CEO Farrukh H. Sabzwari highlighted that this listing builds on a historic preceding year for the capital market:

• FY2026 Momentum: The exchange delivered 11 IPOs in the previous fiscal year—the third highest in 25 years—collectively raising USD 66 million.
• Record Trading Volumes: Average daily traded value reached an all-time high of USD 205 million (~PKR 57 billion).
• Expanding Retail Base: The total capital market investor base hit a historic peak of 583,052 active accounts, onboarding an average of 16,000 new accounts every month.

Regulatory and Executive Perspectives

Securities and Exchange Commission of Pakistan (SECP) Commissioner Mr. Zeeshan Rehman Khattak reiterated the regulator’s commitment to creating a seamless listing pipeline, noting that SELECT’s successful transition to the public market reflects commendable progress in diversifying Pakistan’s industrial economy.

Mr. Adnan Aftab, Chief Executive Officer of Select Technologies Limited, concluded the event by stating: “The listing of Select Technologies Limited on PSX validates our journey as a leading local manufacturer in the consumer technology space. Our focus remains on innovation, quality, and customer trust. This milestone energizes us to play an even larger role in Pakistan’s industrial growth.”