Pakistan’s stock market surge sparks wave of IPOs

December 10, 2025 (MLN): Pakistan’s recent stock market rally is fueling expectations of a strong year for initial public offerings (IPOs), with several companies looking to raise capital to expand operations amid signs of an improving economy, Bloomberg reported.

Upcoming IPOs are expected from a diverse mix of sectors, including consumer goods, pharmaceuticals, and automobiles, according to Arif Habib.

Firms are taking advantage of heightened investor sentiment to fund growth initiatives and increase production capacity.

Among the notable listings in the pipeline is Service Long March Tyres Ltd., a joint venture between Servis Group and China’s Chaoyang Long March, which aims to raise up to Rs6.5 billion ($23.2 million) by April.

Other companies planning to go public include Saraaf, a commodity sourcing startup that raised Rs1.5bn ($5.4 million) on Shark Tank in 2024, and Matco Foods Ltd., which is preparing to spin off its Falak Foods unit through an IPO.

Leading local investment banks are actively involved in this IPO wave. Arif Habib Ltd. and Ktrade Securities Ltd. together have a combined pipeline of as many as 16 offerings over the next seven months, while JS Global Capital Ltd. is looking to list up to six companies.

“Current market valuations are attractive for raising equity,” said Shahid Ali Habib, CEO of Arif Habib, which expects to bring as many as eight offerings to market by June.

He added that stability in the Pakistani rupee, along with a favorable interest-rate environment, is providing strong support for capital markets, according to Bloomberg.

This flurry of activity reflects both rising investor confidence and the companies’ optimism about economic recovery, signaling a potentially landmark year for Pakistan’s capital markets. 

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