KARACHI: Service Long March Tyres Limited (SLM Tyres), Pakistan’s truck and bus radial tyre manufacturer, said it plans to expand production capacity and increase localisation through an initial public offering (IPO) scheduled later this month.
Speaking at a pre-IPO roadshow in Karachi, Chief Executive Officer Omar Saeed said the company was currently valued at about $550 million based on the proposed IPO pricing range, and aimed to expand operations through investment in capacity, exports and technology.
According to offering details shared during the session, the IPO will be priced between Rs14.25 and Rs19.95 per share. The registration period for investors will run from May 13 to May 15, while the book-building process is scheduled for May 18 and 19.
The company expects to raise between Rs5.5 billion and Rs7.8 billion through the offering, representing 5.0 per cent of its post-issue capital. The IPO is being managed by Arif Habib Limited.
SLM Tyres said it currently holds an estimated 59 per cent share of Pakistan’s truck and bus radial tyre market. The company operates through a network of more than 100 dealers and distributors across over 30 cities.
The company said its annual production capacity stands at around 1.6 million tyres and is expected to increase to 2 million tyres by July 2026 following planned expansion measures. SLM Tyres is also installing a 7.5-megawatt wind turbine project aimed at lowering energy costs and improving operational efficiency amid rising industrial power tariffs.
The company said it sees growth potential from domestic demand, import substitution and exports, citing a supply gap in the tyre market.
SLM Tyres also highlighted its joint venture partnership with a Chinese tyre manufacturer, which it said had supported technology transfer and local manufacturing capabilities. Addressing investors during the roadshow, Saeed said the company aimed to expand its manufacturing footprint and increase exports as the industrial and infrastructure sectors grow.
The company said it expects interest from institutional and retail investors seeking exposure to Pakistan’s manufacturing sector.
