PSX, 1LINK sign agreement to enhance book building process

January 17, 2025 (MLN): The Pakistan Stock Exchange (PSX) and 1LINK (Pvt) Limited have signed a landmark agreement to enhance the Book Building System (BBS) at PSX.

This innovative development will enable participants to make online payments exceeding Rs1 million seamlessly through the 1LINK 1BILL platform, integrated with the revamped, indigenously developed BBS by PSX.

The revamped system boasts advanced functionalities and a user-friendly interface, designed to efficiently manage multiple book-building processes simultaneously for all market participants, as per press release issued.

It introduces a host of enhanced features aimed at streamlining the bidding process, delivering an improved experience for both institutional investors and high-net-worth individuals.

The agreement formalized between PSX and 1LINK was signed by Mr. Farrukh H. Sabzwari, MD & CEO of PSX, and Mr. Najeeb Agrawalla, CEO of 1LINK.

The signing ceremony was also attended by Mr. Imran Inayat Butt, Executive Director, Securities Market Division of SECP as well as senior management of PSX & 1LINK.

Speaking at the signing ceremony, Mr. Farrukh Sabzwari stated, “I extend my heartiest congratulations to the teams at PSX and 1LINK for the enhancement of the PSX Book Building System to facilitate investors in an IPO”.

The revamping of this system is a major step forward for the capital market in terms of payment automation and limit enhancement for book building for an IPO, he added.

He further mentioned that this agreement reflects PSX’s commitment to modernize the capital markets by making it more accessible for participants and is aimed at enhancing convenience while ensuring greater transparency and efficiency.

PSX extends its gratitude to the Securities and Exchange Commission of Pakistan and the State Bank of Pakistan for playing an instrumental role in facilitating the development and implementation of this system, he noted.

He added that We also thank them for offering invaluable guidance for ensuring alignment with global best practices.

Mr. Najeeb Agrawalla, remarked, “Our collaboration with PSX marks a significant milestone in the transformation of Pakistan’s capital markets”.

By facilitating seamless online payments during the IPO Book Building process, we are not only enhancing the investor experience but also fostering a more transparent, efficient, and accessible financial ecosystem, he added.

He further stated that we take pride in being part of this groundbreaking initiative.

The enhanced BBS is set to be fully rolled out in the coming weeks, offering a streamlined and efficient IPO experience for all stakeholders.

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