LAHORE – The Securities and Exchange Commission of Pakistan (SECP) approved 10 initial public offerings (IPOs) for listing on the Pakistan Stock Exchange (PSX) during the first half of 2026, with nine companies raising more than Rs20 billion from investors.

According to the regulator, the remaining offering, LSE SPAC-II, is expected to begin its book-building process in the coming days.

The SECP said Pakistan’s IPO market remained active despite regional uncertainty and geopolitical tensions, reflecting sustained investor confidence and the resilience of the country’s capital markets.

The regulator attributed the strong pipeline of public offerings to reforms aimed at simplifying the listing process, improving companies’ access to capital and encouraging broader participation in the stock market.

The approved IPOs spanned a range of sectors, including manufacturing, petroleum, dairy, Islamic finance, poultry, real estate and technology.

Among the largest offerings, Service Long March Tyres Limited raised Rs7.77bn to establish a passenger car tyre manufacturing facility in Nooriabad. Sitara Petroleum secured Rs4.83bn after its IPO was fully subscribed within eight minutes, with demand exceeding the shares on offer by seven times.

Ghani Dairies raised Rs3.44bn, becoming Pakistan’s first listed corporate dairy farm, while Wahdat Poultry generated nearly Rs1bn to finance its expansion plans.

Pak-Qatar General Takaful, the country’s first listed non-life takaful company, received institutional demand exceeding 21 times the shares offered and attracted more than 13,000 retail investors.

The first half of the year also saw the listing of Signature Residency REIT, JS Rental REIT, Pakistan’s first LSE SPAC-I and Select Technologies, while LSE SPAC-II received regulatory approval.

SECP Chairman Dr Kabir Ahmed Sidhu said the commission would continue to simplify listing requirements and improve access to equity investment, adding that the regulator aimed to broaden investor participation and strengthen capital markets as a source of investment and economic growth.