The Pakistan Stock Exchange (PSX) has introduced an online portal to automate the end-to-end listing process for companies.
The Public Offerings Revolutionised through Integrated and Digitised Experience (PRIDE) will enable lead managers, advisers or consultants to submit online applications and documentation for listing of equity, debt, mutual funds and exchange traded funds (ETFs), reports WealthPK, quoting a media statement.
Companies or consultants can also use PRIDE to submit documents against the reverse merger or voluntary delisting.
The PSX conducted the soft launch of PRIDE in December 2021, and based on feedback received from consultants, advisers and lead managers, the IT units of the exchange worked on addressing areas of improvement.
The PRIDE portal now offers advanced and superior features for an enhanced user experience.
Speaking at the launch of PRIDE, PSX Managing Director and Chief Executive Officer Farrukh H Khan, said the online portal was a major step forward in enhancing the capital raising and listing experience on the bourse through a digitised approach.
“The utility and importance of this innovative portal is multi-fold in that it provides a convenient method for filing of listing applications, simplified tracking of listing application status, and record retention,” he said, adding both the Securities and Exchange Commission of Pakistan and PSX could use this platform to share their approvals with issuers of equity and debt securities.
Farrukh Khan expressed the hope that PRIDE would go a long way in facilitating and easing the process of listing. It, he said, reflected the commitment of PSX as a frontline regulator in providing the best in-class digital experience to market participants, thereby supporting ease of doing business for advisers and consultants.
Credit: Independent News Pakistan-WealthPk