Book-building for the Initial Public Offering (IPO) of Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, has opened at the Pakistan Stock Exchange (PSX) on June 22, with the process set to continue through June 23, 2026.
The company is offering 88.88 million ordinary shares, equivalent to 10 percent of its post-IPO paid-up capital, through the book-building mechanism. The floor price has been fixed at Rs28 per share, placing the base issue size at approximately Rs2.49 billion. Under the 50 percent price band, the strike price could reach as high as Rs42 per share, which would push the total issue size to around Rs3.73 billion at the upper limit.
Registration of eligible investors began on June 17 and runs until June 23, coinciding with the book-building window. The public subscription phase is scheduled for July 2 and July 3, 2026.
Expansion into Electronics Manufacturing
Proceeds raised through the IPO are earmarked for expanding Select Technologies’ footprint in Pakistan’s consumer technology and electronics manufacturing sector. Key planned investments include the establishment of a dedicated air-conditioner manufacturing facility and an expansion of the company’s existing smart TV production line.
Select Technologies is currently engaged in the manufacturing and assembly of smartphones, smart TVs, air conditioners, and a range of other consumer appliances. The company has forged partnerships with globally recognised brands, including Xiaomi and Hisense, positioning itself as a significant player in Pakistan’s ongoing push toward local production and import substitution in the consumer electronics segment.
Market Significance
The listing is being viewed as a noteworthy addition to PSX’s technology sector roster, coming at a time when investor appetite for technology-driven manufacturing companies in Pakistan appears to be on the rise.
Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, commented on the broader significance of the offering. “Select Technologies represents an important opportunity for investors to participate in Pakistan’s expanding local electronics manufacturing ecosystem, supported by rising demand for smart devices, appliances and import-substitution-driven industrial growth,” he said.
Arif Habib Limited and Intermarket Securities Limited are serving as joint consultants to the issue.
Context: Air Link Communication’s Listed Subsidiary
Select Technologies is a wholly owned subsidiary of Air Link Communication Limited, one of Pakistan’s established players in the mobile phone distribution and retail space. The IPO marks the subsidiary’s move to operate as a separately listed entity on the PSX, giving the public a direct stake in its manufacturing operations.
Pakistan’s consumer electronics manufacturing sector has gained renewed attention in recent years, driven by government-backed import substitution policies and growing domestic demand for smart devices and home appliances. Companies with established global brand tie-ups, such as those held by Select Technologies with Xiaomi and Hisense, are considered well-positioned to capture a share of this expanding market.
With the book-building process now underway, institutional and eligible investors have a two-day window to participate before the public subscription phase opens in early July. The final strike price, to be determined through the book-building outcome, will set the tone for broader market interest when the public offering opens.
