Select Technologies IPO opens for public subscription

July 01, 2026 (MLN): The general public subscription for the Initial Public Offering (IPO) of Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, will remain open from July 2 to July 3, 2026, following the successful completion of the book-building phase.

The company is offering 88.88 million ordinary shares, equivalent to 10% of its post-IPO paid-up capital. During the book-building process, 66.66m shares, representing 75% of the total issue, were fully subscribed at a strike price of Rs34 per share, indicated robust participation from institutional investors and high-net-worth individuals.

The remaining 22.22m shares, accounting for 25% of the total offer, will now be made available to retail investors at the same strike price of Rs34 per share.

Select Technologies is engaged in the manufacturing and assembly of smartphones, smart televisions, and air conditioners in Pakistan.

The company has formed strategic partnerships with international technology brands, including Xiaomi and Hisense, and aims to capitalize on the country's expanding domestic consumer electronics manufacturing industry.

Commenting on the development, Muzaffar Hayat Paracha, Group CEO of Air Link Communication Limited, said the strong response during the book-building phase reflects investors' confidence in the company's manufacturing capabilities, business model, and long-term growth potential.

He added that the company remains focused on strengthening Pakistan's local electronics manufacturing ecosystem while bringing globally recognized technology products to consumers.

Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, said the successful completion of the book-building process demonstrates investor appetite for fundamentally strong companies and reinforces confidence in Pakistan's capital market as a platform for raising growth capital.

The company noted that the IPO offers investors an opportunity to participate in a Shariah-compliant business supported by local manufacturing, strategic global partnerships, and a technology-driven growth strategy.

Applications for the public subscription can be submitted through the CDC Centralized Subscription Portal and the PSX e-IPO Service until 11:59pm on July 3, 2026.

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