KARACHI: Select Technologies Limited, which is a subsidiary company of Air Link Communication Limited, will make an Initial Public Offer worth PKR 2.489 billion. This decision is aimed at increasing the manufacturing of hi-tech products for customers in the country.
Prospectus to offer the issue of 88,888,889 shares constituting 10% of paid-up capital after the issuance of such shares has been approved by Securities and Exchange Commission of Pakistan and Pakistan Stock Exchange Limited. The issue will be offered through the book building method.
In accordance with the structure that has been approved, 75% of the total issue size, i.e., 66,666,667 shares, would be allotted to eligible subscribers through the process of Book Building on a minimum price of PKR 28.00 per share up to a maximum price band of 50%, which would amount to PKR 42.00 per share. On the other hand, the retail component of the total issue size of 25%, i.e., 22,222,222 shares, would be allocated to retail subscribers on the basis of strike price ascertained from Book Building.
The process of registering the qualified investors will start from June 17, 2026, to June 23, 2026, and Book Building would take place on June 22 and June 23, 2026. The subscription period from the general public would start from July 2 to July 3, 2026.
ALSO READ: SLM Shares Surge on Debut, Servis Group Joins $1bn Club
Arif Habib Limited and Intermarket Securities Limited are acting as joint consultants to the issue.
The IPO proceeds will primarily be utilized to finance the establishment of a new state-of-the-art production facility at Sundar Green Special Economic Zone, Lahore, for the manufacturing and assembly of air conditioners. The proceeds will also support expansion of the Company’s TV production line, investment in smartphone plant and machinery, and working capital requirements.
SELECT 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.
The Company has already established a meaningful presence in Pakistan’s technology manufacturing landscape, with a 15.5% share in the smartphone assembling sector and 7.7% share in total mobile devices manufactured in FY2025.
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 Sundar Green SEZ facility is also expected to provide strategic tax benefits through income tax exemption until FY2035, supporting improved margins and long-term shareholder value.
Nayab Fatima is a university graduate and an emerging media professional with a strong passion for journalism, research, and independent reporting. She specializes in developing well-researched, fact-based, and analytical news stories covering a wide range of sectors, with particular expertise in technology, telecommunications, aviation, and the automobile industry.
