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Air Link’s subsidiary Select Technologies plans to launch an IPO and list on the Pakistan Stock Exchange. Arif Habib Limited appointed as lead manager for the proposed offering.
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Air Link Communication Limited has approved plans for its wholly owned subsidiary, Select Technologies Limited, to raise capital through an initial public offering and pursue listing on the Pakistan Stock Exchange.
The decision was revealed in a material information notice submitted to the exchange on Friday.
“The Board of Directors of Air Link Communication Limited is pleased to announce that its wholly owned subsidiary, Select Technologies Limited (‘Select’), has decided to raise capital through an Initial Public Offering and to seek listing of its securities on the Pakistan Stock Exchange Limited, subject to compliance with all applicable laws, rules and regulations,” the company said in the filing.
According to the disclosure, Select Technologies intends to offer its securities to the public through the IPO after fulfilling all regulatory and legal requirements governing capital market transactions.
Air Link also confirmed the appointment of Arif Habib Limited as consultant to the issue and lead manager for the planned offering.
The company noted that further steps in the IPO and listing process will be carried out in accordance with applicable rules and regulatory procedures.
