Pakistan's KSE-100 Jumps 300% in 3 Years; Record IPOs Fueled by Local Investors

• Pakistan's KSE-100 index rose 300% in three years and 47% this year, making it one of the world's best-performing indexes.
• Increased retail investor participation and attractive valuations are driving the market rally and a surge in planned IPOs.
• Investment banks are preparing 16 IPOs for the next seven months, with 2026 projected to be a record year for new listings.
• The economy is recovering, with S&P and Fitch upgrading ratings due to improved fiscal management and IMF-supported policies.
• Despite the rally, foreign investor interest remains weak, with net selling in nine of the past eleven years.

Why It Matters: Pakistan's market rally and IPO surge offer new investment prospects.