Pakistan’s primary capital market maintained strong momentum during the first half of 2026, with 10 companies receiving approval to launch Initial Public Offerings (IPOs) on the Pakistan Stock Exchange (PSX).
According to the Securities and Exchange Commission of Pakistan (SECP), nine IPOs have already been completed, collectively raising more than Rs. 20 billion from investors. The remaining offering, LSE SPAC-II, is set to enter the book-building phase in the coming days.
The steady flow of listings came despite heightened geopolitical tensions in the region, underscoring continued investor confidence in Pakistan’s capital market.
The regulator attributed the growing IPO activity to reforms aimed at streamlining listing procedures, reducing regulatory hurdles, and making it easier for businesses to access equity financing.
This year’s IPOs covered a wide range of sectors, including manufacturing, petroleum, dairy, Islamic finance, poultry, real estate, and technology, reflecting increasing diversity in the country’s listed companies.
Among the largest offerings, Service Long March Tyres Limited raised Rs. 7.77 billion to finance a passenger vehicle tyre manufacturing facility in Nooriabad. Sitara Petroleum secured Rs. 4.83 billion, with investor demand reaching seven times the number of shares offered and the issue fully subscribed within eight minutes.
Ghani Dairies raised Rs. 3.44 billion, becoming Pakistan’s first publicly listed corporate dairy farm, while Wahdat Poultry generated nearly Rs. 1 billion to support its expansion plans.
Strong investor participation was also seen in Pak-Qatar General Takaful, Pakistan’s first listed non-life Takaful company, where institutional demand exceeded 21 times the shares available and more than 13,000 retail investors participated.
The period also witnessed the listing of Signature Residency REIT, JS Rental REIT, LSE SPAC-I, and Select Technologies, while LSE SPAC-II secured regulatory approval, further expanding investment opportunities on the PSX.
SECP Chairman Dr. Kabir Ahmed Sidhu said the Commission will continue simplifying the listing process and improving access to the stock market. He added that the reforms are intended to broaden investor participation, help businesses raise long-term capital, and strengthen Pakistan’s capital markets as a driver of economic growth.
