Pakistan’s capital market is stable despite global challenges, according to SECP.

Despite difficult global economic conditions, Pakistan’s capital market is still stable, according to the Securities and Exchange Commission of Pakistan (SECP), which also highlights potential for fresh investment.

According to a statement from the SECP, investor confidence and market resiliency are reflected in the ongoing trend of new listings on the Pakistan Stock Exchange (PSX).

Additionally, the regulator authorised the Initial Public Offering (IPO) of a private tyre manufacturer that produces radial tires for trucks and buses. In the current fiscal year, this is the 12th IPO.

The announcement claims that over 389 million firm shares have been put up for sale. The book-building method will be used to carry out the IPO.

According to the arrangement, institutional and high-net-worth investors will receive 75% of the shares, with the remaining 25% going to retail investors.

Strong involvement from local investors has helped sustain overall market confidence, according to the SECP, despite volatility in worldwide markets, including a drop in the KSE-100 index during geopolitical concerns.