In a progressive flow, Pakistan Stock Exchange (PSX) has introduced that it has digitised the system of listing through an online portal called PRIDE (Public Offerings Revolutionised via Integrated and Digitised Experience). Now, on line packages may be submitted for listing of fairness, debt, ETFs.
“The online portal has been designed to automate the listing system from end to end,” the bourse stated in a statement on Monday.
With the assist of PRIDE, the PSX said, lead managers, advisers and consultants should post online programs and engage in online documentation for the listing of fairness, debt, mutual finances and Exchange-traded Funds (ETFs).
It is elaborated that PRIDE might be utilised with the aid of organizations and specialists for filing documents against ‘reverse merger’ and ‘voluntary delisting’.
Speaking on the release of PRIDE, PSX MD and CEO Farrukh H Khan stated, “PRIDE is a primary step forward in improving the capital-raising and listing experience on the stock exchange through a digitised technique. The utility and significance of this innovative portal is multifold in that it affords a convenient approach for filing of listed packages, simplified tracking of listing software repute, and document retention.
Moreover, he stated, both the Securities and Exchange Commission of Pakistan (SECP) and PSX should use the platform to share their approvals with the issuers of equity and debt securities.
“PSX is proud of the revolutionary virtual facility, PRIDE, because it will move a long manner in facilitating and easing the system of listing.”
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