The Securities and Exchange Commission of Pakistan (SECP) has approved Agro Processors & Atmospheric Gases Ltd.’s initial public offering for listing on the Pakistan Stock Exchange (PSX).
Agro Processors & Atmospheric Gases Ltd. (APAG) is preparing to offer 58,049,541 shares through an IPO on the PSX as the edible oil producer seeks funds to expand refining capacity, build storage facilities and invest in renewable energy projects.
The proposed IPO represents 15% of the company’s post-IPO paid-up capital and will use the book-building method. Under the offering, 75% of the shares will be allocated to institutional and high-net-worth investors, while the remaining 25% will be reserved for retail investors. The company is seeking a listing on the PSX main board, with the draft prospectus placed before investors for public comment in July 2026.
Agro Processors is involved in the manufacturing, processing and sale of edible oils, vanaspati, industrial fats, margarine, spices and sauces. Its product portfolio includes well-known brands in Pakistan’s edible oil and food sector.
The company plans to use about 40% of the IPO proceeds to increase its refining capacity by a third, to 120,000 tons a year. A sizable portion of the funds also will be used to develop a storage facility and invest in biomass and solar energy companies.
The renewable energy investments are expected to help the company reduce operating costs while supporting its longer-term expansion plans. The proposed use of IPO proceeds reflects the company’s focus on increasing production capacity and strengthening its infrastructure.
The IPO comes as Pakistan’s equity market has experienced renewed interest in public offerings. The PSX has seen increased IPO activity, with companies seeking to raise capital from investors as market conditions improve.
The proposed listing also follows steps by regulators to make Pakistan’s capital markets more accessible to businesses. However, the PSX’s current listing page shows that the application remains under review.
