Select Technologies IPO registration opens; book building scheduled for June 22-23

Karachi, June 18: Registration of eligible investors for the Initial Public Offering (IPO) of Select Technologies Limited commenced on 17th June and will continue until 3pm June 23, 2026, ahead of the company’s book building process scheduled for June 22 and June 23, 2026.

Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, is engaged in the manufacturing and assembly of smartphones, smart TVs, air conditioners and other consumer appliances in Pakistan for globally recognized brands including Xiaomi and Hisense.

According to the company’s prospectus, the IPO comprises 88.889 million ordinary shares, representing 10 percent of the company’s post-IPO paid-up capital. The floor price has been set at PKR 28 per share, with a maximum price band of up to 50 percent, or PKR 42 per share. At the floor price, the issue size stands at PKR 2.489 billion, while at the upper price band, the company may raise up to approximately PKR 3.7 billion.

Out of the total issue size, 75 percent will be offered through the book building process, while the remaining 25 percent will be offered to retail investors through the general public portion.

The proceeds will primarily be used to support SELECT’s business expansion and diversification plans, including investment in plant and machinery for air-conditioner assembly, smartphone plant upgrades, TV assembly line expansion and working capital requirements.

Commenting on the transaction, Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, said the offering represents another important addition to Pakistan’s capital market.

Select Technologies provides investors exposure to Pakistan’s growing smart devices and consumer appliances manufacturing space, supported by strong sponsor backing, global brand partnerships and planned expansion into higher-margin product categories. We believe this IPO reflects the increasing role of the capital market in supporting industrial growth, import substitution and technology localization in Pakistan, he said.

SELECT holds a 15.5 percent share in the smartphone assembling sector and 7.7 percent share of total mobile devices manufactured in FY2025. The company is now expanding into smart TVs and air conditioners through its new production facility at Sundar Green Special Economic Zone, Lahore.

Post expansion, SELECT’s combined annual production capacity is expected to reach 7 million smartphones, 360,000 televisions and 400,000 air-conditioner units.

The IPO is being managed by Arif Habib Limited and Intermarket Securities Limited as joint consultants to the issue.