PSX Launches digitalised listing process

• The Pakistan Stock Exchange (PSX) has digitalised the process of listing through an online portal, PRIDE.
• The online portal is designed to automate the listing process from end to end.
• PRIDE can be utilised by companies or consultants to submit documents against reverse merger or voluntary delisting.

KARACHI: The Pakistan Stock Exchange (PSX) has digitalised the process of listing through an online portal, Public Offerings Revolutionised (PRIDE), an integrated and digitialised experience, a statement said.

The online portal is designed to automate the listing process from end to end. Through PRIDE, lead managers, advisers or consultants can submit online applications and documentation for listing of equity, debt, mutual funds and Exchange Traded Funds (ETFs).

PSX Managing Director and Chief Executive Officer Farrukh H Khan said PRIDE is a major step forward in enhancing the capital raising and listing experience on the exchange through a digitalised 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.

Both the Securities and Exchange Commission of Pakistan (SECP) and PSX can use this platform to share their approvals with issuers of equity and debt securities,” he added.

The PSX is proud of the innovative digital facility, PRIDE, as it will go a long way in facilitating and easing the process of listing, Khan said, adding PRIDE reflects the commitment of the PSX as a frontline regulator in providing best in-class digital experience to market participants, and supporting ease of doing business for advisors and consultants.

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, advisers and lead managers.

The PRIDE portal now offers advanced and superior features for an enhanced user experience.

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