KARACHI: Service Long March Tyres Limited achieved a major milestone after its Initial Public Offering (IPO) book building process was fully subscribed within just five seconds of opening, setting a new benchmark at the Pakistan Stock Exchange (PSX).
Iran Warns US Over Naval Blockade as Middle East Tensions Push Oil Prices Higher
The overwhelming response from institutional investors and high-net-worth individuals highlighted strong market confidence in the company’s business strength, export potential, manufacturing capacity, and long-term growth strategy.
IPO attracts massive investor interest
The IPO is being offered within a price band of Rs14.25 to Rs19.95 per share. Meanwhile, the book building process is scheduled to continue on May 18 and 19, 2026.
According to market estimates, the company’s valuation stands at nearly $550 million. Moreover, the management aims to transform Service Long March Tyres into a $1 billion company within the next two years.
Arif Habib Limited welcomes investor confidence
Service Long March Tyres Limited received strong backing from investors, making the IPO one of the most talked-about capital market events in recent months.
Arif Habib Limited acted as the lead manager and book runner for the transaction.
Shahid Ali Habib, CEO of Arif Habib Limited, thanked investors for their trust and participation in the landmark offering.
“We sincerely thank all investors for placing their trust in Arif Habib Limited and participating in this landmark transaction,” he said.
He added that the extraordinary response reflected investor confidence in the company’s fundamentals, export outlook, and future growth story.
Positive signal for Pakistan’s capital market
Market analysts view the successful IPO as a strong positive signal for Pakistan’s capital markets, especially as export-oriented manufacturing companies continue attracting investor attention.
Furthermore, the rapid subscription demonstrates renewed confidence in industrial growth and the potential of Pakistan’s manufacturing sector.
