According to bloomberg.com, Service Long March Tyres Ltd., a joint venture between Pakistan’s Servis Group and China’s Chaoyang Long March Tyre, has filed for an initial public offering on the Pakistan Stock Exchange next month. The company is seeking up to Rs7.8 billion, about $28 million, by offering 389.7 million shares.
The firm began commercial production at its Nooriabad plant in Sindh in March 2022. It markets itself as Pakistan’s first and largest producer of all-steel radial tires for trucks and buses, a segment built for heavy-duty use because the tire architecture relies on steel belts and robust construction to carry high loads and resist punctures.
The IPO comes as Service Long March moves into a major expansion phase. Management has announced a further $120 million investment aimed at lifting annual output toward 2.4 million tires under Phase III. That program also includes plans to add a passenger car radial tire plant, broadening the company’s product mix beyond truck and bus applications.
Export growth is central to the company’s strategy. Service Long March says it is on track for $70 million in exports by June 2026, with a target of topping $100 million the following year. Those shipments already reach buyers on four continents and meet the standards required for both original equipment manufacturers and the replacement market.
The listing and the expansion plans were discussed in meetings with Commerce Minister Jam Kamal Khan and company Chairman Jin Yongsheng, underscoring Chinese investor confidence in Pakistan’s tire sector. The industry has grown its footprint abroad and is now the fifth-largest exporter to the US in its category.
The IPO has been described as a record for Pakistan and will bring the joint venture into local capital markets at a time when Chinese industrial investment into the country is rising even as some other foreign flows slow. For a company focused on exportable, heavy-duty tire technology, access to public equity gives it more room to scale capacity and compete in global OEM and replacement channels.
