CDC road show gets encouraging response: Pakistan capital markets day in London

The Central Depository Company of Pakistan Limited (CDC), in collaboration with London Stock Exchange and the sponsors, on Friday held "Pakistan Capital Markets Day" at London Stock Exchange.
"With excellent arrangements by London Stock Exchange and the encouraging turnout of institutional investors and fund managers, the event turned out to be a great success", a press release issued here said. The event is an extension of the series of investment road shows, aimed at promoting investment in the Pakistani capital markets.
As a key pillar in the Pakistani capital market infrastructure, the CDC took an initiative in spring of 2005 to educate the potential investors through a series of investment road shows about the capital market to broaden Pakistan's investor base.
These road shows aim at clearing misconceptions about the capital market investment and promoting safe and secure investment opportunities. Starting from successfully holding these road shows in distant cities of Pakistan, the CDC to took the road shows in September last across the national borders in Dubai and Abu Dhabi.
This initiative won great appreciation as it provided a platform to project the image of the flourishing Pakistani capital market in front of the UAE-based fund managers, bankers and Pakistani expatriates. This motivated the CDC to take these events further to the West. After meeting great success in London, the CDC and London Stock Exchange have decided to hold a similar event next year as well.
The CDC plans to hold another event of similar nature in collaboration with Citibank and some of the local brokers, namely Invest-Cap Securities and AKD Securities, scheduled to be held in New York on July 10. The response from New York is very encouraging as well as the delegation has been invited by New York Stock Exchange, Bank of New York and NASDAQ. While in New York, the CDC will also sign a memorandum of understanding (MoU) with the Depository Trust & Clearing Corporation (DTCC) of USA for exchange of information.
Pakistan Capital Market Days are aimed at bringing investment to Pakistani capital market by arranging meetings of London and New York-based fund managers with Pakistani companies. The link that was established through listing of some Pakistani companies at London Stock Exchange will also strengthen through this initiative.
In addition to informing the audiences about the opportunities, offered by the positive developments in Pakistani economy with special reference to the buoyancy of the capital markets, the event gave Pakistani issuing companies an opportunity to enlighten potential investors and fund managers about their progress, financial strength and future prospects.
The formal proceedings of the event began with a welcome address by Director of Markets, London Stock Exchange Martin Graham, who heartily welcomed the delegates, and said: "Today's event is a part of the international road shows undertaking by the Central Depository Company of Pakistan. "We are delighted to help realise their vision to deliver greater visibility and profile for the Pakistani issuers represented here in London", he said.
Minister for Privatisation and Investment Zahid Hamid gave an overview of the economic reforms and privatisation in Pakistan. This helped set up a positive and promising backdrop to the investment environment in Pakistan, which would give confidence to the foreign investors, further encouraging them to invest in Pakistani companies.
Next was an informative presentation by the CDC about the Regulatory Framework and Clearing and Settlement in Pakistan, which clarified market processes for the foreign investors assuring them of the efficiency, transparency and security of the processes.
Finally, the representatives of the issuing companies proceeded for their scheduled one-on-one meeting with over 35 major institutional investors and fund managers, which gave them an excellent opportunity to directly solicit investment in their stocks.
"Overall, the event successfully showcased the investment friendly environment of Pakistan and the promising investment opportunities offered by the Pakistani capital markets, owing to the recent revival of economic growth in Pakistan", the press release said, and added: "As evident from the encouraging response from the London investors and fund managers, the event is expected to boost the drive for investment in Pakistani capital markets as well as opening direct communication channels between the two economies".-PR