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Chinese Tire Venture Service Long Files for Record Pakistan IPO

Faseeh Mangi
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⚡ Quantum Brief
Pakistan’s largest all-steel radial tire manufacturer has filed for an IPO next month, potentially becoming the nation’s biggest private-sector listing in history. The Karachi-based company, Service Long March Tyres Ltd., aims to raise up to 7.8 billion rupees ($27.9 million) through the share sale. Arif Habib Ltd., the underwriter, confirmed the filing, with CEO Shahid Ali Habib overseeing the transaction as lead manager. The offering marks a significant milestone for Pakistan’s capital markets, testing investor appetite amid economic challenges. If successful, the IPO could set a benchmark for future private-sector listings in the country.
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Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the worldAmericas+1 212 318 2000EMEA+44 20 7330 7500Asia Pacific+65 6212 1000Service Long March Tyres Ltd., Pakistan’s largest manufacturer of all-steel radial tires, has filed for an initial public offering next month that could be the largest private-sector listing in the nation’s history.The Karachi-based company has submitted paperwork to raise as much as 7.8 billion rupees ($27.9 million) from the share sale, according to Shahid Ali Habib, chief executive officer at Arif Habib Ltd., manager and underwriter in the transaction.

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Source: Bloomberg Markets

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