Select Technologies IPO registration opens

KARACHI: Registration of eligible investors for the Initial Public Offering (IPO) of Select Technologies Limited has commenced and will remain open until 3:00pm on June 23, 2026, ahead of the company’s book building process scheduled for June 22 and June 23. Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, is seeking to raise funds to expand its local manufacturing operations for smartphones, smart televisions, air conditioners and other consumer appliances. According to the company’s prospectus, the IPO comprises 88.89 million ordinary shares, representing 10 percent of the company’s post-IPO paid-up capital. The floor price has been set at Rs28 per share, while the maximum price band has been capped at 50 percent, translating into a ceiling price of Rs42 per share. At the floor price, the offering is expected to raise Rs2.49 billion, while the issue size could increase to around Rs3.7 billion if shares are priced at the upper limit. Under the approved structure, 75 percent of the issue size will be offered through the book building process to eligible institutional investors and high-net-worth individuals, while the remaining 25 percent will be available to retail investors through the general public portion. Commenting on the transaction, Arif Habib Limited Chief Executive Officer Shahid Ali Habib said the IPO would provide investors with exposure to Pakistan’s growing technology manufacturing sector. “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 localisation in Pakistan,” he said. Select Technologies manufactures and assembles products for globally recognised brands, including Xiaomi and Hisense, and currently holds a 15.5 percent share in Pakistan’s smartphone assembling sector and a 7.7 percent share of total mobile devices manufactured during FY2025. The company is also expanding its footprint in smart televisions and air conditioners through a new production facility being established at the Sundar Green Special Economic Zone in Lahore. Following the planned expansion, the company’s combined annual production capacity is projected to reach 7 million smartphones, 360,000 televisions and 400,000 air-conditioner units. Arif Habib Limited and Intermarket Securities Limited are acting as joint consultants to the issue. Copyright Business Recorder, 2026