KARACHI: Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, has opened the general public subscription for its initial public offering (IPO) on July 2 following the successful completion of the book-building phase, the company said on Wednesday.
The public subscription will remain open until July 3, 2026, with applications being accepted until 11:59 pm.
The company is offering a total of 88.89 million ordinary shares, representing 10 percent of its post-IPO paid-up capital. During the book-building phase, 66.67 million shares, equivalent to 75 percent of the total offer, were fully subscribed at a strike price of Rs34 per share, reflecting demand from institutional investors and high-net-worth individuals.
Following the completion of book building, the remaining 22.22 million shares, representing 25 percent of the issue, are being offered to the general public at the 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 manufactures products in collaboration with international technology brands, including Xiaomi and Hisense.
Commenting on the development, Air Link Communication Group Chief Executive Officer Muzaffar Hayat Paracha said the successful book-building process reflected investor confidence in the company’s business model, manufacturing capabilities and future growth prospects.
He said the company was established with the objective of strengthening Pakistan’s local electronics manufacturing industry and expanding access to globally recognised technology products.
Arif Habib Limited Chief Executive Officer Shahid Ali Habib said the strong response during book building demonstrated investor confidence in companies with sound fundamentals and highlighted the capital market’s role in providing growth financing to Pakistani businesses.
According to the company, the IPO offers investors an opportunity to invest in a Shariah-compliant business focused on local manufacturing, strategic global partnerships and technology-led growth.
Applications for the public subscription can be submitted through the CDC Centralised Subscription System and the Pakistan Stock Exchange’s e-IPO platform.
Copyright Business Recorder, 2026
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