Book-building for the Initial Public Offering (IPO) of Select Technologies Limited, a wholly owned subsidiary of Air Link Communication Limited, commenced today at the Pakistan Stock Exchange (PSX) and will continue until June 23, 2026.

The company is offering 88.88 million ordinary shares, representing 10% of its post-IPO paid-up capital. The floor price has been set at Rs28 per share, with the issue size estimated at Rs2.49 billion. Under the 50% price band mechanism, the strike price can rise to Rs42 per share, potentially increasing the total issue size to Rs3.73 billion.

Investor registration began on June 17 and will remain open until June 23, while the public subscription phase is scheduled for July 2 and July 3, 2026.

The proceeds from the IPO will be used to expand Select Technologies’ manufacturing operations, including the establishment of an air-conditioner production facility and the expansion of its smart TV manufacturing capacity.

Select Technologies manufactures and assembles smartphones, smart TVs, air conditioners, and other consumer electronics, with strategic partnerships including global brands Xiaomi and Hisense.

Market participants view the offering as another significant addition to Pakistan’s growing technology and electronics manufacturing sector, driven by increasing local production and import-substitution initiatives.