Overview
- Sitara Petroleum Service Limited completed its IPO and was listed on the Pakistan Stock Exchange after selling about 279.9 million shares and raising Rs4.8 billion.
- The offering combined a pre-IPO placement that raised Rs1.66 billion at Rs14.85 per share with an IPO that used book building to discover a strike price of Rs18.90 per share.
- The book-building tranche of 126 million shares was fully subscribed within eight minutes and was oversubscribed seven times, while the 42 million-share retail portion was oversubscribed about 3.4 times with roughly 24,000 retail applications.
- Joint lead managers Arif Habib Limited and Integrated Equities Limited executed the sale, and company management said proceeds will fund expansion of Sitara’s retail fuel network, logistics capacity and fleet operations.
- PSX officials pointed to the listing, which completed on Thursday, May 21, 2026, as evidence of deeper market participation and growing retail investor numbers that may support further IPO activity in Pakistan.