PSX launches digitised listing process

Now online applications can be submitted for listing of equity, debt, ETFs

KARACHI:

In a revolutionary move, Pakistan Stock Exchange (PSX) has announced that it has digitised the process of listing through an online portal called PRIDE (Public Offerings Revolutionised through Integrated and Digitised Experience).

“The online portal has been designed to automate the listing process from end to end,” the bourse said in a statement on Monday.

With the help of PRIDE, the PSX said, lead managers, advisers and consultants could submit online applications and engage in online documentation for the listing of equity, debt, mutual funds and Exchange-traded Funds (ETFs).

It elaborated that PRIDE could be utilised by companies and consultants for submitting documents against ‘reverse merger’ and ‘voluntary delisting’ as well.

Speaking at the launch of PRIDE, PSX MD and CEO Farrukh H Khan stated, “PRIDE is a major step forward in enhancing the capital-raising and listing experience on the stock exchange through a digitised approach. The utility and importance of this innovative portal is multifold in that it provides a convenient method for filing of listing applications, simplified tracking of listing application status, and record retention.”

Moreover, he said, both the Securities and Exchange Commission of Pakistan (SECP) and PSX could use the platform to share their approvals with the issuers of equity and debt securities.

“PSX is proud of the innovative digital facility, PRIDE, as it will go a long way in facilitating and easing the process of listing.”

Published in The Express Tribune, September 27^th, 2022.

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