KARACHI: In a revolutionary move forward, Pakistan Stock Exchange (PSX) has digitised the process of listing through an online portal called ‘PRIDE’, ie, Public Offerings Revolutionized through an Integrated and Digitized Experience. The online portal is designed to automate the listing process from end to end.
Through PRIDE, Lead Managers, Advisors or Consultants can submit online applications & documentation for listing of equity, debt, mutual funds and Exchange Traded Funds (ETFs). Moreover, 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, Advisors and Lead Managers. The PRIDE portal now offers advanced and superior features for an enhanced user experience.
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Speaking at the launch of PRIDE, the MD and CEO PSX, Farrukh H Khan said PRIDE is a major step forward in enhancing the capital raising and listing experience on the Stock Exchange through a digitised 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. Moreover, both the SECP and PSX can use this platform to share their approvals with issuers of equity and debt securities.
He said Pakistan Stock Exchange is truly proud of the innovative digital facility, PRIDE, as it will go a long way in facilitating and easing the process of listing. PRIDE reflects the commitment of PSX as a frontline regulator in providing best in-class digital experience to market participants, thereby supporting ease of doing business for Advisors and Consultants.
Farrukh Khan congratulated the listing and IT teams on this achievement.
Copyright Business Recorder, 2022
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