APAG, maker of Soya Supreme, lists on PSX after IPO draws nearly double demand

Agro Processors & Atmospheric Gases Limited (APAG), the maker of Soya Supreme cooking oil, listed on the Pakistan Stock Exchange on September 15 with a Gong Ceremony at PSX headquarters in Karachi. The IPO offered 58.049 million shares, representing 15% of post-IPO paid-up capital, after strong institutional and retail demand.

How much demand did the APAG IPO attract?

The book-building portion of 43.537 million shares was oversubscribed 1.84 times, with the strike price discovered at PKR 33.00 per share against a floor of PKR 32.00 and ceiling of PKR 44.80. The general public portion drew PKR 878 million in bids against PKR 479 million offered, an oversubscription of 1.83 times.

What brands does APAG own besides Soya Supreme?

APAG has a 45-year heritage and has grown into a diversified house of consumer brands. Its portfolio includes Soya Supreme Cooking Oil and Banaspati, Soya Supreme Olive Cooking Oil, Malta, Smart Sauces, Supremo and Taqat Margarine. While Soya Supreme remains the brand most closely associated with APAG, the company now serves millions of consumers across multiple categories.

What did PSX officials say about the APAG listing?

Ahmed Chinoy, H.I.S.I., Shareholder Director of PSX, welcomed the company to the exchange. "It is a privilege to welcome Agro Processors & Atmospheric Gases Limited to the Pakistan Stock Exchange," he said. "This Gong Ceremony marks the 12th listing of the calendar year and the 4th of the fiscal year, underscoring the strong momentum of Pakistan's capital market. APAG's admission is particularly significant as the company behind Soya Supreme, a household brand trusted by generations, now joins the listed community."

"The successful IPO reflects investor confidence in Pakistan's consumer sector," Chinoy said. "The offering of 58 million shares was oversubscribed nearly twice over, with strong participation from both institutional and retail investors. This milestone highlights the resilience of our capital market and the appetite for companies with strong fundamentals and brand equity." He added: "With investor accounts now exceeding 630,000, driven by Millennials and Gen Z, Pakistan's capital market continues to expand their base and demonstrate long term growth potential."

What did APAG's CEO say about the listing?

Ahmad Aziz Ghulamhussain, CEO of APAG, described the listing as a proud milestone. "This is a very proud moment for everyone at APAG, a company that has been shaped by the dedication of our people, the trust of our consumers and the support of our stakeholders," he said. "Our brand, Soya Supreme, is a major name within Pakistani households, and we are incredibly proud of the place our brands have earned in people's lives."

Looking ahead, Ghulamhussain highlighted APAG's ambition to strengthen its existing brands, expand into new categories and create greater value for its stakeholders. "To now mark APAG's listing on the Pakistan Stock Exchange is a significant milestone in our journey, but it is not the destination. It is the beginning of a new chapter," he said. "Our ambition goes well beyond the brands and markets we serve today. We want to continue expanding our portfolio and taking our brands to new markets. We are trusted by millions today, but our vision is to build brands that are trusted and used by billions of consumers around the world." worldwide.

Who advised on the APAG IPO?

Ghulamhussain thanked APAG's employees, consumers, investors and business partners, along with the Pakistan Stock Exchange, the Securities and Exchange Commission of Pakistan, KTrade Securities, HBL and other advisors who supported the IPO and listing process.

Omar Salah Ahmed, Managing Director of KTrade Securities, called APAG a welcome addition to the food sector at PSX. "APAG is a great company and a welcome addition to the Food sector at PSX, with a rich 45-year history that has seen one of Pakistan's most recognized household names, Soya Supreme, become an integral part of everyday life," he said. "We strongly believe that, given its corporate culture, financial performance and the sponsors' commitment to further professionalize the Company, APAG has the potential to be among the star IPOs of 2026."

The ceremony concluded with the ceremonial ringing of the PSX Gong, marking APAG's transition into its next chapter as a publicly listed company.