The Pakistan Stock Exchange welcomes the listing of the first Chinese-backed company on June 15, 2026. Photo: Screenshot from China Media Group

The Pakistan Stock Exchange (PSX), where a Chinese consortium led by the China Financial Futures Exchange serves as the largest shareholder, welcomed the listing of the first Chinese-backed company on Monday. 

The debut broke multiple records on Pakistan’s capital market and marks a new stage in China-Pakistan Economic Corridor cooperation — shifting from industrial investment to a “industry + capital” dual-engine model, China Media Group reported on Tuesday.

According to the report, the listing set several records. The IPO raised approximately $28 million, which was oversubscribed 16.7 times, and achieved full subscription in just 5 seconds — setting new highs for both the largest subscription amount and the fastest subscription speed in PSX history.

You Hang, vice president of the China Financial Futures Exchange and Chinese director on the PSX Board, said that the IPO marks a milestone for China-Pakistan economic cooperation, which has completed a perfect “closed-loop” — from technology introduction and production localization to eventual integration into the capital market.

Farrukh H. Sabzwari, CEO of the PSX, noted that it represented the largest financing project in the past two decades. It has injected new vitality into the PSX, boosted market confidence, and created a strong demonstration effect for other companies cooperating with China.

The company, Service Long March Tyres Limited (SLM), is a joint venture between China’s Chaoyang Long March Tyre and Pakistan’s Servis Group. Prior to the listing, the Chinese side held approximately 43 percent stake. SLM is Pakistan’s largest manufacturer of all-steel radial tires, commanding 55 percent of the domestic market share. It is also a key tire exporter, with products sold to markets including the US and Brazil, according to stcn.com.

The proceeds from the IPO will primarily be used to construct a new passenger car radial tire factory, China Media Group reported.


Global Times