Karachi: Select Technologies Limited\u2019s Initial Public Offering book-building process was fully subscribed at Rs34 per share, above the floor price of PKR 28 per share. The Company offered 66.67 million ordinary shares, and the offering was oversubscribed by 3.2 times. This strong demand reflects investor confidence in both Pakistan\u2019s expanding smart devices and consumer electronics manufacturing sector and the Company\u2019s growth potential. Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, manufactures and assembles smartphones, smart TVs, air conditioners, and other consumer appliances in Pakistan. The Company plans to expand into higher-margin consumer technology and home appliance segments. Muzzaffar Hayat Piracha, Group CEO of Air Link Communication Limited, stated that the investor response demonstrates confidence in the Group\u2019s long-term vision. \u201cSelect Technologies represents our commitment to building a stronger local manufacturing platform for smartphones, smart devices, and consumer electronics in Pakistan. The successful subscription of the book-building process is a vote of confidence in our strategy and our partnerships,\u201d he said. News Desk
\nShahid Ali Habib, CEO of Arif Habib Limited, noted that the successful book-building indicates strong investor interest in fundamentally sound companies within high-growth sectors.
\n\u201cThe strong response to Select Technologies\u2019 IPO highlights investors\u2019 confidence in Pakistan\u2019s capital market and in companies that are contributing to import substitution, industrial growth, and local value addition. We are pleased to be associated with this transaction,\u201d he said.
\nThe IPO proceeds will support the Company\u2019s expansion plans and reinforce its position in Pakistan\u2019s evolving consumer technology sector.<\/p>\n","protected":false},"excerpt":{"rendered":"
Karachi: Select Technologies Limited\u2019s Initial Public Offering book-building process was fully subscribed at Rs34 per share, above the floor price of PKR 28 per share. The Company offered 66.67 million ordinary shares, and the offering was oversubscribed by 3.2 times. This strong demand reflects investor confidence in both Pakistan\u2019s expanding smart devices and consumer electronics […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-552789","post","type-post","status-publish","format-standard","category-business"],"yoast_head":"\n