Air Link Communication Limited, a Pakistani technology firm, said on Friday that its wholly owned subsidiary, Select Technologies Limited, intends to launch an Initial Public Offering (IPO) and seek listing on the Pakistan Stock Exchange (PSX).
The technology firm shared the development in a notice to the Pakistan Stock Exchange (PSX) on Friday.
“The Board of Directors of Air Link Communication Limited is pleased to announce that its wholly owned subsidiary, Select Technologies Limited, has decided to raise capital through an IPO and to seek listing of its securities on the PSX,” read the notice.
The IPO is subject to compliance with all applicable laws, rules and regulations.
The notice further read that Arif Habib Limited has been appointed as the consultant to the issue and lead manager for the proposed IPO.
Earlier in January, Select Technologies Limited announced a strategic partnership with global consumer electronics giant HISENSE to locally manufacture and distribute a range of home appliances in Pakistan.
Air Link Communication Limited was incorporated in Pakistan as a private limited company in January 2014 and was converted into a public limited company in April 2019.
The company is engaged in import, export, distribution, identification, wholesale, and retail of communication and IT-related products and services, including smartphones/ cellular phones, tablets, laptop accessories, and related products.