Published May 22, 2026 Updated about an hour ago By Muhammad Saqib KARACHI: Sitara Petroleum Service Limited (SPSL) on Thursday formally joined the Pakistan Stock Exchange (PSX) after successfully completing one of the country’s largest and most widely participated private-sector Initial Public Offerings (IPO), raising approximately Rs4.8 billion amid overwhelming investor response. The listing marks the 10th IPO of the year, reflecting growing momentum in Pakistan’s capital market as both institutional and retail participation continue to strengthen despite global economic uncertainties. According to details shared at the listing ceremony held at the Pakistan Stock Exchange, Sitara Petroleum’s IPO attracted the highest-ever participation in Pakistan’s IPO history, with nearly 25,000 applications received across both the book-building and retail subscription phases. The transaction raised approximately Rs4.8 billion, making it among the largest private-sector IPOs in Pakistan’s history, while demonstrating strong investor confidence in the company’s fuel retail and logistics business model. The book-building portion of the offering, comprising 126 million ordinary shares, was fully subscribed within just eight minutes and ended up oversubscribed seven times, underscoring exceptionally strong demand from institutional investors and high-net-worth individuals. Meanwhile, the retail subscription phase also witnessed robust participation, with the 42 million-share retail portion oversubscribed 3.4 times, attracting nearly 24,000 applications from…