Enlistment of IT/ITES cos on GEM Board of PSX: PSEB appoints AKD Securities Ltd as FA

KARACHI: As per the mandate given by the Ministry of Information Technology, Pakistan Software Export Board (“PSEB”) launched its initiative to provide easy access to capital markets for small and medium IT based enterprises via Initial Offering on Growth Enterprise Market Board (“GEM”) of Pakistan Stock Exchange (“PSX”).

GEM Board is a listing platform aimed at facilitating growth-oriented businesses where small, medium, or green-field businesses raise capital to fund their growth and expansion plans.

PSEB aims to list Forty (40) IT/ITeS companies on the GEM Board of PSX, to whom it will extend significant financial and technical assistance in raising capital via listing on PSX GEM Board. To incentivize these companies to get themselves listed, PSEB as an is bearing 70% of the cost associated with the GEM Board Listing, with only 30% of GEM Board Listing costs being borne by the Company. For the inaugural listing under the auspices of PSEB, AKD Securities Limited has been nominated for the initial eight (08) companies.