IPO drought ends in Pakistan's stock market with record year ahead

The nation has posted the fastest equity rally in Asia since March, and will host about 10 IPOs in the fiscal yr to June 2021

Pakistan’s market for initial public offerings (IPOs) is coming out of hibernation and heading for a record year.
 

The nation, which has posted the fastest equity rally in Asia since March, will host about 10 new-share sales in the fiscal year to June 2021, according to its top adviser Arif Habib. That follows a 17-month streak of no new initial share sales and beats the previous record of nine deals in 2008.
 

“IPOs will always be active when the stock market is performing and company valuations are good,” Arif Habib’s Chief Executive Officer Shahid Ali Habib said in Karachi. “There