SLM Tires IPO Fully Subscribed Within Seconds in Record-Breaking Market Debut
Service Long March Tires Limited (Service Long March Tires Limited) has achieved a remarkable milestone as its initial public offering (IPO) was fully subscribed within just five seconds of opening on Monday, marking one of the fastest book-building transactions in the history of the Pakistan Stock Exchange.
The IPO price was set between Rs14.25 and Rs19.95 per share. The book-building process was scheduled for May 18 and 19, 2026.
The company’s valuation in the IPO is estimated at around $550 million, while management has set an ambitious target of turning the company into a $1 billion enterprise within the next two years.
Market analysts say the strong response reflects renewed investor interest in export-linked manufacturing and industrial companies listed on the Pakistan equity market.
As part of its expansion strategy, SLM Tires plans to establish a new plant for passenger car tire production, expected to begin commercial operations in January 2028. The initial annual production capacity is projected at 2 million tires, which will be increased to 2.5 million by 2029 and 3 million by 2030.
The successful IPO is being viewed as a positive signal for Pakistan’s capital markets, especially at a time when export-oriented industries are regaining investor attention.
