Select Technologies Limited (SELECT) has become the first company to be listed on the Pakistan Stock Exchange (PSX) in the 2026-27 fiscal year, successfully completing its Initial Public Offering (IPO) with strong participation from both institutional and retail investors. The listing marks a significant milestone for Pakistan’s technology manufacturing sector and reflects growing investor confidence in locally manufactured consumer electronics.
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The IPO comprised 88.9 million ordinary shares, representing 10% of the company’s post-issue paid-up capital. During the book-building process, robust investor demand resulted in the discovery of a strike price of Rs34 per share, a 21% premium over the floor price of Rs28. Overall, the offering raised approximately Rs3.02 billion, with the issue receiving an oversubscription of more than 3.2 times, highlighting strong market appetite for the company’s growth story.
Select Technologies, a subsidiary of Air Link Communication Limited, manufactures and assembles smartphones, smart televisions and other consumer electronics in Pakistan. The company has established manufacturing partnerships with leading international brands, including Xiaomi and Hisense, and plans to utilise the IPO proceeds to expand its production capabilities. Planned investments include the establishment of a new air-conditioner manufacturing facility, expansion of television production and enhancement of smartphone manufacturing operations.
Speaking at the listing ceremony, officials from the Pakistan Stock Exchange and the Securities and Exchange Commission of Pakistan (SECP) described the listing as an encouraging development for Pakistan’s capital markets and manufacturing sector. They noted that the successful IPO demonstrates growing confidence in the country’s equity market and supports efforts to diversify the industrial base through technology-led manufacturing.
Company management said the successful listing will enable Select Technologies to accelerate its long-term expansion strategy while maintaining high standards of corporate governance and transparency. The company aims to strengthen its position in Pakistan’s consumer electronics industry by increasing local manufacturing capacity, reducing dependence on imports and introducing innovative products tailored to domestic demand.
