PSX launches digitised listing process
ISLAMABAD-In a move forward, the Pakistan Stock Exchange (PSX) has digitised the process of listing through an online portal, PRIDE (Public Offerings Revolutionised through an Integrated and Digitised Experience).
According to press statement received here Monday, the online portal is designed to automate the listing process from end to end. Through PRIDE, lead managers, advisors or consultants can submit online applications and documentation for listing of equity, debt, mutual funds and Exchange Traded Funds (ETFs). Moreover, PRIDE can be utilised by companies or consultants to submit documents against Reverse Merger or Voluntary Delisting as well.
The soft launch of PRIDE was conducted in December 2021, subsequent to which listing and IT units of PSX worked on addressing areas of improvement based on feedback received from consultants, advisors and lead managers. The PRIDE portal now offers advanced and superior features for an enhanced user experience, the statement added. Speaking at the launch of PRIDE, the Managing Director (MD) and Chief executive Officer (CEO), PSX, Farrukh H Khan, stated that PRIDE was 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, he said, adding that both the SECP and PSX could use this platform to share their approvals with issuers of equity and debt securities. He expressed the hope that PRIDE goes a long way in facilitating and easing the process of listing. It, he said, reflects the commitment of PSX as a frontline regulator in providing best in-class digital experience to market participants, thereby supporting ease of doing business for advisors and consultants.
Article source: https://www.nation.com.pk/27-Sep-2022/psx-launches-digitised-listing-process