ISLAMABAD
Three recently listed companies shared their IPO experiences, capital raising strategies and post listing growth plans at the fourth session of the Securities and Exchange Commission of Pakistan’s SECP Talk Series, highlighting the growing role of the capital market in financing business expansion.
The three companies presented strong investor response to their public offerings. Service Long March Tyres attracted PKR 85 billion in bids and was 16.7 times oversubscribed, while Select Technologies raised PKR 3.02 billion with its offering 3.23 times oversubscribed. The companies shared how IPO proceeds are being deployed for capacity expansion, new projects and working capital. The session featured Mr. Omar Saeed, CEO of Service Long March Tyres Limited, Mr. Zaheer Baig, CEO of Sitara Petroleum Service Limited, and Mr. Adnan Aftab, CEO of Select Technologies Limited.
Welcoming the participants, SECP Commissioner Muzaffar Ahmed Mirza said Pakistan, with a population of around 255 million and nearly two thirds below the age of 30, offers significant investment potential. However, the capital market remains underpenetrated with around 500,000 to 600,000 investors, representing less than one percent of the population. He said SECP is targeting 2.5 million investors through easier market access and expanded financial literacy.
Mr. Omar Saeed said Service Long March Tyres is Pakistan’s first and largest manufacturer and exporter of TBR tyres. Its IPO attracted more than 35,000 investors, while IPO proceeds are contributing 24.6 percent of the funding for its PKR 22.56 billion passenger car radial tyre project, with planned annual capacity of 2 million tyres.
Mr. Zaheer Baig outlined Sitara Petroleum’s post listing growth plans, including the Gatti Oil Depot, Capital Smart Motors, EV charging infrastructure and a tyre manufacturing opportunity.
He highlighted access to growth capital, improved valuation, credibility and institutional visibility as key benefits of listing.
Mr. Adnan Aftab said Select Technologies raised PKR 3.02 billion for capacity expansion and working capital. Its IPO was 3.23 times oversubscribed and its shares opened at a 21.4 percent premium on the Pakistan Stock Exchange.
During the interactive session, Chairman SECP Dr. Kabir Ahmed Sidhu said SECP is simplifying digital onboarding and developing a compact mobile first application for youth and first time investors. He also highlighted the revamp of IFMP as a national financial literacy platform and SECP’s work on a separate legal framework to promote private equity and broaden financing options for businesses.
