The Securities and Exchange Commission of Pakistan (SECP) has said that listing of new public offerings is continuing at the Pakistan Stock Exchange despite challenging global economic conditions, reported 24NewsHD TV Channel on Saturday.
SECP also approved the IPO of Servis March Long Tyres, which is involved in the manufacturing of truck and bus radial tyres.
The SECP stated that more than 389.7 million shares of the company are being offered for sale through the public offering.
The IPO will be conducted under the book-building method, ensuring price discovery through investor demand.
Under the structure, 75% of shares are reserved for institutional and high-net-worth investors, while 25% are allocated for retail investors.
The SECP acknowledged that the KSE-100 Index dropped 14.54% during the recent US-Iran conflict period.
The regulator said that continued participation from local investors has helped maintain overall market confidence.
SECP noted that the number of initial public offerings (IPOs) on the stock exchange has reached 12 in the current fiscal year.
A series of new listings is also ongoing, reflecting improved market activity and investor interest.
Reporter: Waqas Azeem