Pakistan Stock Exchange (PSX) has now become the first self-listed stock exchange in South Asia.
To celebrate self listing and share sales, PSX organized a get-together at the stock exchange building earlier today. Governor Sindh Muhammad Zubair was the chief guest on the occasion.
Acting Managing Director PSX Haroon Askri, lead consultant for PSX shares sales Arif Habib and other celebrated individuals were present at the event along with a large number of brokers and investors.
PSX share sales and self listing process completed in 2 phases. A total of 60 percent shares were sold, out of which 40 percent shares were sold to strategic investors while 20 percent shares were sold to 150 investors via book building process.
The share price remained same in both phases at Rs. 28 per share. Total worth of the transaction stood at Rs. 13.448 billion. Remaining 40 percent shares of exchange remain with 200 owner brokers of PSX.
Governor Sindh Muhammad Zubair congratulated the Securities and Exchange Commission of Pakistan (SECP) for promoting stock market in the country. Governor stressed the need for self projection of PSX.
“There is need to highlight the economic success of Pakistan on the front pages of news papers, “governor said in his speech.
Arif Habib in his speech told that after many years of struggle, stock exchange finally completed self-listing and its own shares trading at last. He highlighted the hard term and conditions for PSX IPO.
“For IPO it is necessary the applicant must be registered with the tax authority. Despite the
tough terms and conditions PSX IPO over subscription was a great success,” Arif Habib remaked.