Searle Set for Pakistan’s Largest IPO in History

Searle Company Limited was established in Pakistan as a private limited company in October 1965 and was converted into a public limited company in November 1993. Its holding company is International Brands Limited.

It manufactures pharmaceutical products, primarily cardiovascular, allergy, and cough preparations, infant milk formulas, and biotechnology products.

With six production plants in Karachi and Lahore, Searle Company Limited employs about 600 staffers and supplies products to countries like the Philippines, the UAE, and a number of European countries.

During these difficult and challenging times, which had severe repercussions on Pakistan as well as on the global economic environment, Searle secured an impressive performance during the year ended June 30, 2021. The company reported revenue of Rs. 16.57 billion. It reported a profit after tax Rs. 2.12 billion as compared to a profit of Rs. 2.45 billion.

Pakistan has had a record number of IPOs this year, with eight IPOs offered in FY 2021 compared to none in the previous fiscal year.

Last month, the smartphone assembler, Air Link Communication, raised Rs. 6.43 billion in Pakistan’s most lucrative private sector IPO last month. It sold 90 million shares at a price of Rs. 71.5 per share.

Similarly, the IT services company Octopus Digital’s IPO was oversubscribed by a record 27 times and raised a capital of Rs. 1.11 billion. It sold 27.35 million shares at Rs. 40.6 per share.

Published by
Aleena Haroon