In a revolutionary move forward, Pakistan Stock Exchange (PSX) has digitized the process of listing through an online portal called PRIDE, i.e. 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 and documentation for the listing of equities, debt, mutual funds, and Exchange Traded Funds (ETFs). Moreover, PRIDE can be utilized by companies or consultants to submit documents against Reverse mergers 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.
Speaking at the launch of PRIDE, the MD & CEO of PSX, 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 are 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”.
The PSX top executive added, “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 a best-in-class digital experience to market participants, thereby supporting ease of doing business for Advisors & Consultants. I congratulate the listing and IT teams on this achievement”.