May 21, 2026

Gong Ceremony to Celebrate the Listing of Sitara Petroleum Service Limited

Pakistan Stock Exchange (PSX) hosted a Gong Ceremony to mark the official listing of Sitara Petroleum Service Limited, following the successful completion of its landmark Initial Public Offering (IPO). This milestone event celebrated Sitara Petroleum’s achievement and underscored the growing strength, depth and resilience of Pakistan’s capital markets.

The IPO generated record-breaking investor participation, raising PKR 4.8 billion and ranking among the largest private sector IPOs in Pakistan’s history. The Book Building tranche of 126 million shares was fully subscribed within 8 minutes and oversubscribed by 7 times, while the Retail tranche of 42 million shares was oversubscribed by 3.4 times, with approximately 24,000 applications nationwide. In total, the transaction comprised 279.9 million shares, representing 16.66% of post-IPO paid-up capital.

The ceremony was graced by the presence of Mr. Farrukh H. Sabzwari, CEO, Pakistan Stock Exchange; Mr. Zaheer Baig, CEO, Sitara Petroleum Service Limited; Mr. Shahid Ali Habib, CEO, Arif Habib Limited; senior representatives of SECP; leadership of CDC and NCCPL; Mr. Bilal Farooq Zardi, CEO, PSBA; members of PSX’s Board of Directors and senior management; and representatives from leading brokerage houses, capital market institutions, and investor groups.