KARACHI: The general public subscription for the Initial Public Offering (IPO) of Select Technologies Limited, a subsidiary of Air Link Communication Limited, will open on July 2 and continue until July 3, 2026.
The company is offering 88.88 million ordinary shares, equal to 10 percent of its post IPO paid up capital. Out of the total issue, 66.66 million shares, or 75 percent, were allocated to the book building process. That portion was fully subscribed at a strike price of Rs34 per share, showing strong demand from institutional investors and high-net-worth individuals.
The remaining 22.22 million shares, or 25 percent of the total offer, will now be available to the general public at the same price of Rs34 per share during the subscription period.
Read more: Select Technologies IPO oversubscribed by 3.2 times
Select Technologies Limited is involved in the manufacturing and assembly of smartphones, smart televisions, and air conditioners in Pakistan. The company has partnerships with international brands including Xiaomi and Hisense. It aims to benefit from the rising trend of local production of consumer electronics in the country.
Muzaffar Hayat Paracha, Group CEO of Air Link Communication Limited, said the strong response in the book building phase reflects investor confidence in the company’s business model, production capacity, and future growth outlook. He said the company aims to strengthen Pakistan’s local electronics manufacturing base and provide global technology products to local consumers.
Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, said the response highlights investor trust in strong companies with solid financial fundamentals. He added that the successful book building is a positive sign for Pakistan’s capital market and for firms raising capital through the stock exchange.
The company said investors now have an opportunity to invest in a business focused on innovation, local manufacturing, strategic partnerships, and a Shariah-compliant structure.
