Select Technologies IPO book-building opens at PSX today

Karachi, June 22: Book-building for the Initial Public Offering of Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, opens today at the Pakistan Stock Exchange and will continue on June 23, 2026, marking another important technology-sector listing at the local bourse.

The Company is offering 88.88 million ordinary shares, representing 10 percent of its post-IPO paid-up capital, through the book-building process. The floor price has been set at Rs28 per share, translating into a base issue size of approximately Rs2.49 billion. The strike price may go up to Rs42 per share under the 50 percent price band, taking the total issue size to around Rs3.73 billion at the upper limit.

The registration of eligible investors commenced on June 17 and will continue until June 23, while the book-building will take place on June 22 and June 23. The public subscription is scheduled for July 2 and July 3, 2026.

Proceeds from the IPO will be utilized to support Select Technologies’ expansion in Pakistan’s growing consumer technology and electronics manufacturing space, including the establishment of an air-conditioner manufacturing facility and expansion of its smart TV production line.

Select Technologies is engaged in the manufacturing and assembly of smartphones, smart TVs, air conditioners and other consumer appliances. The Company has developed partnerships with global brands including Xiaomi and Hisense, positioning itself to play a larger role in Pakistan’s shift towards local production of consumer electronics.

Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, said the IPO reflects growing investor interest in Pakistan’s technology-led manufacturing sector. Select Technologies represents an important opportunity for investors to participate in Pakistan’s expanding local electronics manufacturing ecosystem, supported by rising demand for smart devices, appliances and import-substitution-driven industrial growth, he said.

Arif Habib Limited and Intermarket Securities Limited are acting as joint consultants to the issue.