IPO nets Rs956m: Wahdat Poultry makes remarkable PSX debut

KARACHI: Wahdat Poultry Farm Limited was formally listed on the Main Board of the Pakistan Stock Exchange (PSX) on Friday, following a successful initial public offering (IPO) that raised Rs956 million and attracted strong participation from both institutional and retail investors. To commemorate the listing, PSX hosted a gong ceremony at its trading hall in Karachi, attended by senior officials of the exchange, representatives of the company, investment bankers, brokers, and market participants. The company’s IPO witnessed robust investor demand, with the strike price settling at Rs18 per share, representing a 50 percent premium over the floor price of Rs12 per share. The book-building portion was oversubscribed 5. 2 times, while the retail segment received subscription of 1. 2 times. According to details shared during the ceremony, 2, 731 retail investors participated in the public offering, alongside 81 individual investors and 24 institutional investors during the book-building process. Market participants said the strong response reflected growing investor confidence in Pakistan’s capital markets and increasing interest in agribusiness and food-sector companies. Speaking at the ceremony, Chairman of Pakistan Stock Exchange, Ruhail Muhammad said the listing of Wahdat Poultry Farm Limited was an encouraging development for Pakistan’s agriculture and food-processing sectors. “The listing of Wahdat Poultry Farm Limited is a proud moment for the Pakistan Stock Exchange and a strong signal to the food and agriculture sector that the capital markets are open for business, ” he said, adding that Pakistan’s agri-processing sector represented significant untapped potential for future listings and investment opportunities. Chief Executive Officer of PSX, Farrukh H. Sabzwari, said the listing reflected the growing momentum in Pakistan’s equity market and highlighted the increasing participation of retail investors. He noted that the benchmark KSE-100 Index had delivered a one-year US dollar return of 58. 09 percent, ranking second among regional markets, while also posting the highest three-year and five-year annualized returns of 63. 21 percent and 16. 28 percent, respectively. Sabzwari further stated that the number of Unique Investor Numbers (UINs) reached approximately 545, 000 by the end of April 2026 — the highest level in PSX history — with a record 25, 114 new accounts opened during April alone. He added that the average monthly account openings during the first four months of 2026 stood at 20, 482 compared to 8, 804 in 2025. He also pointed to rising retail participation in IPOs, noting that the average number of retail investors participating per IPO had increased from 2, 186 investors in 2024 to around 9, 008 investors so far in 2026. According to him, PSX expects at least 12 IPOs to be launched during FY26. Chief Executive Officer of Topline Securities Limited? , Mohammed Sohail, whose firm acted as advisor and lead manager to the IPO, said the strong investor response reaffirmed the appetite for quality listings in Pakistan’s equity market. He said Wahdat Poultry’s listing could serve as a benchmark for agricultural enterprises seeking to raise capital through the stock market. Meanwhile, Chief Executive Officer of Wahdat Poultry Farm Limited, Aurangzeb Khan, described the listing as a transformative milestone for the company. He said the company’s entry into the capital market would strengthen its financial base while also enhancing transparency and corporate governance standards. He thanked both institutional and retail investors for their confidence in the company and pledged to deliver long-term growth and shareholder value. The successful listing of Wahdat Poultry Farm Limited comes amid renewed activity in Pakistan’s IPO market, where increasing retail participation and improved market performance have encouraged more companies to tap equity markets for growth financing. Analysts said the transaction also highlighted expanding investor appetite for diversified sectors beyond traditional banking, energy, and fertilizer stocks, particularly companies linked to food security and agriculture-driven growth. Copyright Business Recorder, 2026

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