Karachi: The Securities and Exchange Commission of Pakistan and the Pakistan Stock Exchange Limited have approved the issuance and publication of the prospectus for Sitara Petroleum Service Limited’s Initial Public Offering. This significant event, dated April 27, 2026, marks the launch of 168 million ordinary shares through the Book Building method, a move that has been anticipated in the financial circles of Karachi.

According to information available from the Pakistan Stock Exchange (PSX), the offering comprises 75% of the total issue size, translating to 126 million shares. These shares are available at a floor price of PKR 13.50 per share, with a maximum price band reaching up to PKR 18.90 per share. This pricing strategy allows potential investors to engage in the bidding process, with expectations of securing shares at competitive rates.

Eligible Participants interested in the Book Building process must register with PSX unless previously registered. The registration period runs from April 28, 2026, to May 5, 2026, with specific timings for submission. The process requires Clearing Members of the National Clearing Company of Pakistan Limited to provide essential information via email, ensuring compliance with the Public Offering Regulations, 2017.

The bidding dates are set between May 4, 2026, and May 5, 2026, with the conclusion of registration scheduled for 3:00 p.m. on the final day of the bidding period. Participants must express their interest and submit margins as per the designated market guidelines, ensuring a structured and regulated approach to this financial opportunity.

The financial community is expected to closely monitor the outcome of this offering, as Sitara Petroleum Service Limited’s entry into the public market represents a pivotal moment in the energy sector within Pakistan. The process is facilitated by the National Clearing Company of Pakistan Limited, which will oversee the collection and refund of margin money, adhering to the scheduled timelines and regulatory compliance.

This IPO is poised to attract substantial attention from investors seeking to capitalize on the growth potential within the petroleum industry, further solidifying Sitara Petroleum Service Limited’s position in the market.