The Islamabad Stock Exchange (ISE) in collaboration with the leading brokerage firm of the country AKD Securities Limited conducted a training session on the "IPO through Book Building Process", here on Wednesday at ISE Towers. The aim of this training session was to equip members and investors of the Exchange to meet the challenges of contemporary and developing financial system of Pakistan.
The crunch of this session was to train the members and investors about the complex procedures of the dynamic & evolving financial markets of Pakistan in live with the traditional best practices. Muhammad Farid Alam, CEO of AKD Securities Limited delivered a comprehensive presentation to a large group of people including Members of the Exchange, investors and students.
He briefed that companies prefer to list their securities at an Exchange where Members are more supportive in terms of IPO Advisory, Pre-IPO Placement, Book Building and Market Making besides underwriting arrangements. He added, that the Book Building was basically a process used in IPOs for efficient price discovery of new scrip's which helps the mechanism to facilitate the price level determination. Prior to IPO where bids are collected from investors, which are above or equal to the floor price of the issue.
The book building process has given new dimension to the securities market in Pakistan and this process would go a long way for bringing new depth for our markets, Farid said. Imtiaz Haider, Managing Director, Islamabad Stock Exchange, while thanking the guest speaker also spoke at the occasion and he also briefed the audiences about the book building process.-PR
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