SE Fruits withdraws IPO application, plans fresh submission with added disclosures

SE Fruits and Vegetable Limited has decided to withdraw its current initial public offering application and submit a fresh application after adding further disclosures to its prospectus, the company said on October 13.

The disclosures will provide additional information on the transition of the underlying business, which had operated as a partnership since 1998, to the newly incorporated public limited company in 2026.

Why is SE Fruits resubmitting its IPO application?

SE Fruits said the revised prospectus will provide more information on its corporate transition and support transparency, regulatory compliance, investor protection and informed investment decisions. The company said the withdrawal is procedural and does not mean it is abandoning plans to list on Pakistan’s capital market.

The board said SE Fruits intends to reapply after completing the revised prospectus and the applicable regulatory process.

The move comes after the IPO process had already progressed through regulatory approvals and subscription. PSX records show the company’s listing application was approved by PSX on September 7 and SECP on September 9, followed by book building on September 21-22 and public subscription on September 28-29.

SE Fruits is a Sargodha-based, export-oriented company engaged in the export of kinnow, mangoes and potatoes. The company describes itself as Shariah-compliant.

It said further developments on the revised IPO application and timetable would be communicated through official channels and urged investors to rely only on official company announcements for confirmed information.