The Pakistan Stock Exchange (PSX) announced that all money collected from investors in the SE Fruits and Vegetable Limited initial public offering has been returned to their bank accounts after the IPO was withdrawn.
In a notice dated October 22, 2026, the exchange said the refunds were made in line with a directive from the Securities and Exchange Commission of Pakistan (SECP) after the company chose to pull its IPO.
Investors Can Contact Banks for Details
The PSX instructed investors who need more information to get in touch with their banks or the intermediaries used for their IPO subscriptions.
Anyone with further queries may also write to the exchange at listing@psx.com.pk, the notice added.
SE Fruits and Vegetable Limited received SECP approval in September 2026 to issue a prospectus for an IPO of 30 million ordinary shares.
The issue moved to the book-building phase, but the regulator later halted progress to protect investors after inconsistencies were found in the prospectus.
A complaint filed on September 11, two days after the prospectus was approved, highlighted mismatches between reported sales and sales-tax returns for 2022-2026, unreported local sales in the 2024 income-tax return, and gaps between reported sales and bank credits.
On October 13, the company said it would withdraw the current application and refile with broader disclosures about converting its partnership, operating since 1998, into a public limited company incorporated in 2026.
The SECP has announced regulatory action and started a formal investigation into the prospectus, the auditor's work, the issue consultant's due diligence, the PSX's oversight, and the regulator's own approval process.
