The Securities and Exchange Commission of Pakistan (SECP) approved ten Initial Public Offerings (IPOs) for listing on the Pakistan Stock Exchange (PSX) during the first half of 2026. Nine companies have already completed their IPOs, raising more than Rs 20 billion through public offerings, while the book building for LSE SPAC-II is scheduled to take place in the coming days.
Resilient Capital Market Amid Regional Uncertainty
The strong IPO momentum came despite regional uncertainty and geopolitical tensions, demonstrating the resilience of Pakistan’s capital market and sustained investor confidence. The robust IPO pipeline also reflects the success of the SECP’s reforms to simplify regulations, facilitate capital raising, and encourage more companies to access the capital market. The IPOs spanned a diverse range of sectors, including manufacturing, petroleum, dairy, Islamic finance, poultry, real estate, and technology, highlighting the growing depth and breadth of Pakistan’s capital market.
Key IPOs and Sectoral Diversity
Service Long March Tyres Limited raised Rs 7.77 billion to establish a passenger car tyre manufacturing plant in Nooriabad. Sitara Petroleum raised Rs 4.83 billion, with its IPO fully subscribed in just eight minutes and attracting demand seven times the shares offered. Ghani Dairies raised Rs 3.44 billion, becoming Pakistan’s first listed corporate dairy farm, while Wahdat Poultry raised nearly Rs 1 billion for business expansion.
Pak-Qatar General Takaful, Pakistan’s first listed non-life Takaful company, received institutional demand 21 times the shares offered and attracted more than 13,000 retail investors.
Real Estate and SPAC Listings Expand Investment Options
The period also saw the successful listing of Signature Residency REIT and JS Rental REIT, expanding investment opportunities in professionally managed real estate. Pakistan’s first LSE SPAC-I was listed, while LSE SPAC-II received SECP approval. Select Technologies also joined the market, reflecting growing investor interest in Pakistan’s technology and manufacturing sectors.
SECP Chairman Reaffirms Commitment to Simplifying Listings
SECP Chairman Dr Kabir Ahmed Sidhu reaffirmed the commission’s commitment to further simplify listings and make stock market investing easier and more accessible. He said SECP’s objective is to expand investor participation, enable more Pakistanis to share in the country’s growth, and strengthen capital markets as a key driver of investment and economic development.
