Service Long March Tyres Limited’s initial public offering (IPO) book building has witnessed historic investor participation, being oversubscribed 16.7 times and generating total interest of approximately Rs. 69.4 billion (around $250 million) during the two-day process.
The IPO received the highest-ever bids for any IPO on the Pakistan Stock Exchange (PSX).
Market participants described the level of participation as unprecedented in Pakistan’s IPO market.
The IPO has already achieved its maximum fundraising target of Rs. 7.77 billion. The transaction also reached the upper end of its price band, representing a 40% premium over the floor price.
The strong response positions the offering among the most heavily subscribed industrial IPOs in Pakistan’s recent capital market history. It also highlights growing investor appetite for export-oriented manufacturing companies with scale, technological advantage, and regional market access.
Speaking on the successful transaction, Shahid Ali Habib, Chief Executive Officer of Arif Habib Limited, the lead manager and book runner for the IPO, said the response marked a historic moment for Pakistan’s capital market.
“Service Long March Tyres’ IPO is the largest transaction in the history of the Pakistan Stock Exchange, generating investor interest of approximately PKR 70 billion (around USD 250 million) and raising PKR 7.77 billion, which is also the highest amount ever raised by any IPO on the PSX,” he said.
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inshaAllah I will purchase this iop