SECP approves public offering of New Nazimabad Apartments REIT
- The issue size is between Rs793 million and Rs1.01 billion, shared AHL
The Securities and Exchange Commission of Pakistan (SECP) has approved the public offering of New Nazimabad Apartments REIT, marking the 13th public offering on the Pakistan Stock Exchange (PSX) this year.
As per a statement released on Tuesday, the REIT will offer more than 44 million units to investors, said SECP.
“A new investment opportunity in one of Karachi’s prominent residential developments,” said Arif Habib Limited (AHL) in a post on social media.
The company shared that the issue size is between Rs793 million and Rs1.01 billion. The price band has been set at Rs18-23 per share.
“The increase in public offerings reflects the growing trend of raising capital from the capital market,” SECP Chairman Dr Kabir Ahmed Siddiqui said in a statement.
“A stable capital market is essential to provide long-term financing to businesses,” he added. “We are taking further steps to reduce the time and cost of raising capital from the capital market.”
Initial Public Offerings (IPOs) at the PSX have seen significant fluctuations in recent years, with a notable revival in 2024 that continued with strong momentum into 2026.
Analysts believe more IPOs are expected in 2026 as market valuations have increased, with abundant liquidity encouraging companies to offer shares. The PSX is projected to witness 16 IPOs in 2026.