Author: yasir

Sitara Petroleum Service Limited (SPSL) has successfully concluded its book-building phase on May 5, 2026, with the strike price determined at PKR 18.90 per share, the upper limit of the price band, reflecting strong and decisive institutional demand. The IPO was oversubscribed 7 times of the size. With the conclusion of this IPO, Sitara Petroleum Service IPO becomes the third largest IPO after Interloop and Airlink. The offering attracted investor interest of over PKR 11.7 billion, highlighting the depth of demand from institutional investors and high-net-worth individuals. The IPO comprises a total offering of 279.9 million shares, representing 16.66% company’s…

Novo Nordisk, the Danish leading global healthcare company, marked an important milestone in Pakistan by launching its “Live Lighter” initiative for people living with obesity at a grand event held at the Mohatta Palace, in Karachi. The event brought together healthcare leaders, policymakers, media, and influencers to address one of the country’s most pressing yet misunderstood health challenges, obesity. Despite its growing prevalence both globally and in Pakistan, obesity continues to be viewed through a lens of personal responsibility, often delaying timely and appropriate care. It is closely linked to more than 200 medical conditions, including type 2 diabetes, cardiovascular…

Sitara Petroleum Service Limited’s initial public offering (IPO) book building has achieved the cap price of PKR 18.90 within just 10 minutes of opening, marking the fastest-ever book building transaction to reach the cap price in the history of the Pakistan Stock Exchange (PSX). The exceptional investor response saw the issue fully subscribed in record time, underscoring strong demand from institutional investors and high-net-worth individuals at the upper end of the price band. The rapid price discovery at the cap level highlights robust investor confidence in Sitara Petroleum’s business fundamentals, scalable fuel station management model, and its expanding logistics and…

Supernet Technologies Limited (STL) has announced its first financial results following merger with Supernet Limited (SNL), for the nine months ended March 31, 2026, delivering a strong performance. The Company reported a topline revenue of Rs 5.72 billion on a consolidated basis, which translated into a gross profit of Rs 1.38 billion and operating profit of Rs 604 million. Profit before taxation for STL and its subsidiaries stood at Rs 483 million, while profit after tax reached Rs 334 million, resulting in earnings per share (EPS) of Rs 2.89. These results are not comparable with the prior period, which include…

Jubilee Life Insurance, the country’s largest private sector insurance company, Kashf Foundation and United Nations Development Programme (UNDP) jointly launch the “Khushal Mustaqbil Takaful (KMT),” an innovative micro-savings and protection product designed to strengthen the financial resilience of women from underserved communities. The strategic collaboration was formalized at the Kashf Foundation Head Office in Lahore, with representatives from the UNDP also present to support marking a significant milestone in advancing financial inclusion and gender responsive insurance solutions. Designed specifically for Kashf Foundation’s women borrowers, KMT is a yearly renewable endowment Takaful plan that combines protection with long term savings. Operating…

The Pak International Business Forum (PIBF) has welcomed the Government of Pakistan’s forward-looking decision to facilitate transit trade with Iran under the “Transit of Goods through Territory of Pakistan Order 2026,” terming it a landmark step toward enhancing regional connectivity and economic integration. Under the new framework, goods from third countries will be allowed to pass through Pakistan to Iran via designated corridors including Gwadar, Karachi, Port Qasim, and Taftan. PIBF noted that this initiative will significantly reduce logistical bottlenecks, improve supply chain efficiency, and position Pakistan as a vital regional trade and transit hub connecting South Asia, the Middle…

Pakistan Telecommunication Company Limited (PTCL) notes recent media reports regarding a potential change in the investment position of e& (formerly Etisalat) in Pakistan. The company would like to reject the baseless and speculative reports and is not aware of the sources referenced in these reports. As a publicly listed entity, PTCL emphasizes the importance of accurate and responsible reporting, as unverified information may lead to unnecessary market speculation.PTCL’s shareholders remain fully committed to the company’s long-term strategy and growth trajectory. This is reflected in key strategic initiatives, including the acquisition of Telenor Pakistan and Orion Towers, Ufone’s 5G spectrum acquisition,…

The Modern Hospital (TMH), in collaboration with The Muslim Medical Mission (MMM) Network, successfully convened the 16th Annual National Medical Conference today at the Karachi Marriott Hotel. Themed “Shaping the Future of Medical Ethics,” this landmark event brought together a premier assembly of clinicians, academicians, and policymakers to address the critical intersection of healthcare, Artificial Intelligence (AI), and Islamic ethical frameworks.Navigating a New Frontier in HealthcareThe conference opened with a high-profile plenary session featuring Prof. Dr. S.M. Tariq Rafi, Chairman of HEC Sindh, as the Chief Guest. He was joined by Mr. Tahir Hussain Sangi (PAS), Secretary of Health, Government…

The Bilquis and Abdul Razak Dawood Foundation (BARD) has on boarded 13 emerging athletes from across Pakistan under its Athlete Training and Development Programme, an initiative designed to identify, nurture, and prepare promising sports talent to represent Pakistan at national and international levels. The programme is designed to support talented athletes through a structured, athlete-centred development model, enabling them to progress safely and sustainably from grassroots to elite competition. BARD’s approach integrates high-performance training, access to professional coaching with expert consultants such as Mr. Salman Butt, nutrition, mental preparedness, and competition exposure, ensuring athletes are equipped to compete at national…

Service Long March Tyres Limited, one of Pakistan’s leading manufacturers of truck and bus radial tyres, has announced its Initial Public Offering (IPO) at the Pakistan Stock Exchange, marking a significant milestone as the company moves into its next phase of growth with entry into the passenger car radial (PCR) tyre segment. The company has received approval from PSX. The company is offering 389.738 million ordinary shares, representing 5 percent of its post-IPO paid-up capital, through the book-building method at a floor price of Rs14.25 per share that can rise upto 40% to reach Rs. 19.95 per share subject to…