SE Fruits and Vegetables IPO: fresh produce sector needs institutional capital, says CFO

Business Recorder reported that SE Fruits and Vegetables, a Sargodha-based firm that ships mangoes, citrus and potatoes abroad, is set to be the first company in fresh produce to go public on the Pakistan Stock Exchange. Its Chief Financial Officer, Rai Omar, said the listing could bring institutional capital into a sector that has largely depended on informal financing.

The company hopes to raise roughly Rs1.9 billion through its initial public offering next month. Omar stressed that the money will not be used to repay debt but to finance working capital, as overseas buyers have wanted more volume than the firm can fund. About 78% of proceeds will go to advance payments to farmers and to credit sales, while 3-4% will set up a UAE subsidiary and open a liaison office in Uzbekistan.

The company, which generated revenue of about $7.6 million in FY26, says its market share is not more than 2% of national fruit and vegetable exports of $470 million. Those exports fell from $700 million last year, a drop Omar linked to the Middle East conflict and the Afghan border closure, and he expects a recovery to $700 million. Over five years, the company aims to lift revenue from the current Rs2 billion to between Rs15 billion and Rs20 billion.