SECP Citation IPO Summit 2015

05 Jun, 2015

The SECP has always supported and facilitated initiatives relating to development of capital market. In the recent past, it has taken various steps for the development of the IPO market. These steps include introduction of the e-IPO facility, introduction of the Book Building mechanism, e-dividend option, issuance of SECP Listing Guide Book, Regulations for Issuance of Sukuk, Regulations for issuance of Commercial Papers, Regulations for Listing of SMEs Regulations for REIT Schemes, Establishment of Islamic Finance Department and promulgation of the Securities Act etc.
(i) The e-IPO facility enables the investors to make application for subscriptions of shares electronically.
(ii) To bring our IPO market at par with the developed markets, SECP, in consultation with the KSE, has introduced book building mechanism, which provides the market forces the opportunity to decide market price of the shares offered to the public for subscription.
(iii)The dividend mandate option is provided to the investors through the IPO Shares Subscription Applications and the shares Transfer Deeds.
(iv)To facilitate the issuers, the SECP has issued a Listing Guide Book, containing all the procedures and legal requirements involved in an IPO.
(v) To enable high-rated companies to raise fund against issue of unsecured debt instruments, the SECP has notified Regulations for issue of Commercial Papers.
(vi)To safeguard interest of debt security holders, SECP has notified the Debt Securities Trustees Regulations.
(vii)To enable SMEs to meet their financial needs from the capital market, the SECP has approved KSE's and ISE's Regulations for Listing ofSMEs.
(viii)On the Islamic capital market side, the SECP has established Islamic Finance Department and has notified regulations for regulatingthe Sukuk issues.

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