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A revolutionary step named ‘PRIDE’

The PRIDE soft launch took place in December 2021, after which the PSX Listing, and IT Units worked to resolve areas for improvement based on comments from Consultants, Advisors, and Lead Managers.

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Pakistan Stock Exchange (PSX) has taken a revolutionary step by digitizing the listing process via online platform named ‘PRIDE’, i.e., Public Offerings Revolutionized through an Integrated and Digitized Experience. The digital portal is intended to completely automate the listing process.

PSX also shared the development on its official Twitter handle stating, PSX is proud to announce the digitization of listings through an online portal called PRIDE.”

Lead Managers, Advisors, and Consultants can use PRIDE to submit online applications and documents for the listing of equities, debt, mutual funds, and ETFs (ETFs). Furthermore, PRIDE can be used by companies or consultants to submit documents in response to Reverse Merger or Voluntary Delisting.

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The PRIDE soft launch took place in December 2021, after which the PSX Listing, and IT Units worked to resolve areas for improvement based on comments from Consultants, Advisors, and Lead Managers. For a better user experience, the PRIDE portal now includes advanced and superior functionality.

Addressing the launch of PRIDE, PSX MD and CEO Farrukh H Khan stated, “PRIDE is a major step forward in enhancing the capital-raising and listing experience on the stock exchange through a digitized 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.”

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He expressed the hope that PRIDE will help to facilitate and ease the listing process. It underscores PSX’s commitment as a frontline regulator to offer best-in-class digital experiences to market players, hence boosting the ease of doing business for Advisors and Consultants, he said.

Moreover, he stated that the Securities and Exchange Commission of Pakistan (SECP) and the PSX might use the platform to share their approvals with issuers of equity and debt securities.