PSX goes live with Public PRIDE

December 13, 2022 (MLN): After implementing the PRIDE system, which automated the listing process for debt and equity issues, Pakistan Stock Exchange (PSX) has gone live with Public PRIDE which is a one-stop solution focused on investors for all information on upcoming public offerings, said a press release issued on Monday. 

Public PRIDE concentrates all information relating to upcoming Main Board listings and Publicly Issued Debt listings.

It helps investors to know the status of these listing applications and to view their relevant documentation prior to making an investment decision. Public PRIDE is an extension of PRIDE which was soft-launched in December 2021 and was fully launched in September 2022.

Taking the vision of digitization forward, Public PRIDE aims to ensure a seamless flow of information to the general public through its webpage.

The listing process used to be a manual process with a significant amount of allied documentation in hard copies involved.

Moreover, there was some amount of duplication involved in the process of application filing and approvals for listing. With PRIDE, which stands for Public Offerings Revolutionized through an Integrated & Digitized Experience, the process of listing has been fully digitized.

PRIDE is a one-stop solution facilitating Consultants, Advisors, and Lead Managers to electronically submit applications for the listing of equity, debt, mutual funds, and Exchange Traded Funds (ETFs).

Furthermore, it can be utilized to submit applications for Reverse Merger or Voluntary Delisting as well.

Speaking at the Go-Live of Public PRIDE, the MD & CEO of PSX, Farrukh H. Khan, stated, “After successfully implementing PRIDE, which has been well received by consultants, advisors, and issuers, we are excited to launch Public PRIDE, which will meet the needs of investors and provide information about upcoming debt and equity issues to the entire market in a transparent manner." 

The general public, including investors, can keep abreast with the status of the listing of Main Board companies as well as Publicly Issued Debt on PSX, he added.

This information will enhance and augment the experience for investors and assist them in investment decisions in the primary market. I congratulate the PSX team for working hard to bring timely information, in a transparent manner, to investors through this technological innovation, he further noted. 

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