Soya Supreme, a cooking oil manufacturer in Pakistan, is planning to have an initial public offering (IPO) in order to expand its business to the Middle East and North Africa. This comes during a challenging time for the Pakistan Stock Exchange due to economic and political uncertainty. In 2022, there were only three public listings, the lowest in nine years. Soya Supreme, established in 1991, will decide on the timing of the IPO based on market conditions. The company has authorized Habib Bank Limited and KTrade, a brokerage, to initiate the IPO process. The amount the company aims to raise and its valuation have not been disclosed yet. Soya Supreme imports raw materials and in 2022, $3.7 billion worth of soybean and palm oil were imported. The company also recently expanded into specialized industrial fats to meet the demand from local food companies facing import restrictions. Soya Supreme is also exporting specialized fats to the Middle East and North Africa. In addition to cooking oil, the brand also offers a line of sauces. Another major consumer staple company, Dalda, has also announced plans for an IPO, but the dates are yet to be announced.
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