SECP eases stock market access for partnerships, LLPs

March 18, 2026 (MLN): The Securities and Exchange Commission of Pakistan (SECP) has proposed amendments to the Public Offering Regulations to provide businesses operating as Associations of Persons (AoPs), partnerships, and Limited Liability Partnerships (LLPs) easier access to raise capital through the stock market.

Under the proposed amendments, such businesses, once registered as companies, will be able to use their prior business and financial performance when applying for listing on the stock exchange.

These proposed changes have been released on the SECP website for public consultation.

The move is expected to reduce barriers for private businesses entering the market and make it easier for stable enterprises to raise capital for expansion.It will also help promote Pakistan’s capital market.

Under current regulations, a company is required to show a minimum two-year profitable record before a public offering.

The proposed amendments would allow partnerships, which later register as companies, to use their historical financial and business records for this purpose, provided that the specified conditions are met.

To ensure investor protection and transparency, the financial statements of these entities will be prepared in accordance with the accounting and disclosure standards applicable to companies.

Their audit will also be required to be conducted by an auditor approved under the Quality Control Review (QCR) framework.

This initiative will help bring partnership-based businesses into a corporate structure and integrate them formally into the capital market.

The proposed amendments to the Public Offering Regulations 2017 are available on the SECP website for public consultation. Stakeholders and market participants can submit their feedback to the Commission within 14 days.

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