Select Technologies Limited will be formally listed on the Pakistan Stock Exchange with effect from Monday, July 13, following the successful completion of its initial public offering earlier this month. Trading in the company’s shares will commence on the Main Board on a T plus one settlement basis, with the first settlement date set for Tuesday, July 14.
The company’s market lot has been set at one share of Rs10 each, with the opening price fixed at Rs34 per share, the same level determined through the earlier Book Building process. Normal circuit breakers will apply on the opening price of the shares once trading begins in the Ready Market. The shares have already been declared an eligible security by the Central Depository Company of Pakistan, and all transactions will be settled through the National Clearing Company of Pakistan, which has assigned the company the code SELECT for trading purposes. Select Technologies will be quoted in the Technology and Communication sector in the exchange’s daily quotation.
Following a review of its latest financial statements and the nature of its business, the company has been deemed Shariah compliant under the Shariah Screening Criteria of the KMI All Share Index, and will be included in the PSX-KMI All Share Islamic Index from the date of its listing, giving Islamic finance focused investors direct access to the stock through that index as well.
The listing follows a strong finish to Select Technologies’ initial public offering, which was oversubscribed by 1.73 times during its public subscription phase, with investors applying for 38.43 million ordinary shares against an offered 22.22 million shares. Combined with an earlier book building phase that was oversubscribed 3.2 times at a strike price of Rs34 per share, the offering raised a total of around Rs3.02 billion, positioning it as the first initial public offering of the new fiscal year 2026-27 on the Pakistan Stock Exchange. The company, a wholly owned subsidiary of Air Link Communication Limited, manufactures Xiaomi smartphones and has partnered with Chinese electronics maker Hisense to produce LED televisions and air conditioners locally.
Select Technologies plans to use proceeds from the offering to expand production capacity at its new facility in the Sundar Green Special Economic Zone in Punjab, where the company is working to diversify beyond smartphones into a broader consumer appliance business spanning televisions and air conditioners. Once fully operational, the Sundar facility combined with the company’s existing plant is expected to bring total annual production capacity to 7 million smartphones, 360,000 televisions, and 400,000 air conditioner units. The listing adds to a wave of technology sector companies going public on the Pakistan Stock Exchange in recent months, with new listings on the exchange having delivered an average return of 47 percent as of early June, reflecting continued investor confidence in Pakistan’s capital markets heading into the new fiscal year.
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