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Listing is a procedure of offering the shares of your company to the general public as equity on the Stock exchange
The listing of a company on the Exchange is a graduating step, enhancing the company’s official and public standing. Listed companies represent the highest standard of efficiency and profitability, creating an avenue for investors to take advantage and share the returns of the company’s growth. To begin this journey, we start by highlighting the benefits of listing on the Exchange:
Email: haris.saeed@psx.com.pk
Telephone: +92-2135274574 Ext: 4582
Email: Sarmad.Hussain@psx.com.pk
Telephone: +9221 111-001122 Ext: 4653| Direct: 042-36316974
Email: abbas.naqvi@psx.com.pk
Telephone: 111-001-122 Ext. 4666| Direct: 051-2894666
Email: listing@psx.com.pk
Whether you are just gathering information for a possible IPO in the future, or you are actually planning or preparing for IPO the Business Development team of PSX is here to offer assistance.
If you have already begun preparations for IPO but want to hear from the PSX directly, our team is here for you to consult with. We are ready to answer any questions regarding the listing of your company. If you want to know about our system and rules for listing such as listing criteria, or if you are wondering what you should do to prepare for listing, please feel free to contact us from our web site or by phone.
We also have staff available to visit prospective applicants and provide hands-on explanations of the listing process.
Email: haris.saeed@psx.com.pk
Telephone: +92-2135274574 Ext: 4582
Email: Sarmad.Hussain@psx.com.pk
Telephone: +9221 111-001122 Ext: 4653| Direct: 042-36316974
Email: abbas.naqvi@psx.com.pk
Telephone: 111-001-122 Ext. 4666| Direct: 051-2894666
Email: listing@psx.com.pk
Whether you are just gathering information for a possible IPO in the future, or you are actually planning or preparing for IPO the Business Development team of PSX is here to offer assistance.
If you have already begun preparations for IPO but want to hear from the PSX directly, our team is here for you to consult with. We are ready to answer any questions regarding the listing of your company. If you want to know about our system and rules for listing such as listing criteria, or if you are wondering what you should do to prepare for listing, please feel free to contact us from our web site or by phone.
We also have staff available to visit prospective applicants and provide hands-on explanations of the listing process.
Email: haris.saeed@psx.com.pk
Telephone: +92-2135274574 Ext: 4582
Email: Sarmad.Hussain@psx.com.pk
Telephone: +9221 111-001122 Ext: 4653| Direct: 042-36316974
Email: abbas.naqvi@psx.com.pk
Telephone: 111-001-122 Ext. 4666| Direct: 051-2894666
Email: listing@psx.com.pk
A public issuance of debt securities provides issuers with access to large pools of funds through the numerous investors who invest in listed instruments.
By listing bonds of a company to raise capital, the equity of the company is not diluted.
The liquidity created by listing debt securities enables companies to raise long term debt securities as individual investors may exit when they require cash flow. Listed debt securities therefore are issued at a lower interest rate as liquidity risk is significantly reduced.
A company may apply for listing of its debt securities offered and issued to QIBs throughprivate placement under Chapter 5C of PSX Regulations, provided that:
[Explanation No. 1: An instrument in the nature of redeemable capital may have the conversion option i.e. the option of conversion into ordinary shares of the issuer.]
[Explanation No. 2: This clause (x) shall not apply to an issue of perpetual debenture or any other perpetual debt security.]
For listing of a debt security, the following procedure shall be followed:
A company applying for listing of its debt security under Chapter 5C of PSX Regulations shall pay to the Exchange an initial and annual listing fee at the rate as mentioned below:
Any Issuer may apply for listing of its Debt Securities offered to the General Public under chapter 5B of the PSX Regulations provided it fulfills the following criteria:
The Issuer that intends to list any of its Debt Securities on the Exchange shall comply with the following conditions: Minimum allocation of capital to the General Public excluding the Pre-IPO investors shall be as under:
For listing of Debt Securities under chapter 5B of the PSX Regulations following procedure shall be followed:
The Issuer shall for listing of any of its Debt Securities, make an application on Form-A to the Exchange along with the documents/information as mentioned
in Annexure-I.
The Issuer shall pay an initial listing fee of such amount as mentioned in regulation 5B.9.
Trading in Debt Securities listed under chapter 5B of the PSX Regulations shall commence one day after the date of their formal listing;
The Debt Securities shall be traded at the Exchange’s Bond Automated Trading System (BATS);
The Issuer is required to appoint Market Maker and Compliance Officer, who shall be responsible to their respective functions as laid down in under the relevant Regulations
The Issuer shall pay to the Exchange initial listing fee and annual listing fee at the rate as mentioned below:
The brokerage commission under the public offer shall be payable to the TRE Certificate Holders of the Exchange at the rate of 0.25 percent of the value of debt security actually sold through them.
The Exchange will list the short - term debt instruments in the form of a short term finance certificate issued by the listed companies as well as non - listed companies. There is no compulsory requirement of public offering where the debt instrument is issued for a maximum period of 365 days and its size is upto Rs. 100 million. The public offering where required shall be at least Rs. 200 million or 20% of the total issue size, whichever is lower.
Whether you are just gathering information for a possible IPO in the future, or you are actually planning or preparing for IPO the Business Development team of PSX is here to offer assistance.
PSX Debt Security Information Desk is here to provide you with more information, answer any questions you may have and create an effective solution for your instructional needs. Please complete the form below, so we can provide quick and efficient service. If this is an urgent matter, please contact Customer Support:
Email: haris.saeed@psx.com.pk
Telephone: +92-2135274574 Ext: 4582
Email: Sarmad.Hussain@psx.com.pk
Telephone: +9221 111-001122 Ext: 4653| Direct: 042-36316974
Email: abbas.naqvi@psx.com.pk
Telephone: 111-001-122 Ext. 4666| Direct: 051-2894666
Email: listing@psx.com.pk
WE WANT TO HEAR FROM YOU!
PSX Information Desk is here to provide you with more information, answer any questions you may have and create an effective solution for your instructional needs.
Please complete the form below, so we can provide quick and efficient service. If this is an urgent matter, please contact Customer Support:
Email: haris.saeed@psx.com.pk
Telephone: +92-2135274574 Ext: 4582
Email: Sarmad.Hussain@psx.com.pk
Telephone: +9221 111-001122 Ext: 4653| Direct: 042-36316974
Email: abbas.naqvi@psx.com.pk
Telephone: 111-001-122 Ext. 4666| Direct: 051-2894666
Email: listing@psx.com.pk
List of Directors received from PICGPreview
Notice issued by the Exchange to all Listed Companies & Issuer of listed securities KSE/N-920 dated February 21, 2013Preview
1. What is the capital eligibility criteria for main board listing?
Answer: A Minimum post issue paid-up capital of Rs.200 million is required to list on the main board.
2. What is the capital eligibility criteria for GEM board listing?
Answer: Minimum post issue paid-up capital of Rs.25 million is required to list on the GEM board.
3. How much capital should be raised on an IPO?
Answer: This depends on the amount of funds the company needs to raise and, the interest of the investors. The company must be able to justify their specific need for capital to investors. Management must also carefully consider the degree of control they wish to retain. When a company goes public, a reasonable percentage of the shares must be publicly owned and have a minimum market value of PKR 200,000,000 for Pakistan Stock Exchange.
4. What is the business requirement for main board listing?
Answer: The following are the business requirements for main board listing:
1. The Issuer shall have been in operations for at least 3 financial years;
2. The issuer has profitable track record for at least 2 preceding financial years from its core business activities
3. Not less than 51% of the shares of the issuer are held by the same persons for at least 2 preceding financial years;
4. Its book value per share is not less than its face value per share;
5. Why companies seek listing on PSX instead of simply borrowing funds from financial institutions?
Conventional sources of financing include raising capital from existing shareholders and borrowing from financial institutions to which companies have to pay interest, even if they face business loss. Because PSX-listed companies source their capital funding directly from the shareholding public, these shareholders receive returns on their investment as dividends only when firms are profitable. Whenever listed companies need to raise capital for expansion, they are able to issue additional shares and offer them to the public.
6. Who sets the initial share price?
Answer: The company mutually agrees on an initial floor price, by agreement with the broker/investment dealer. However, consideration to the marketplace is the main factor.
7. How is a trading symbol assigned?
Answer: You can request specific trading symbols and we will try to accommodate your choices. If none of the preferred symbols are available, Pakistan Stock Exchange will request a symbol from NCCPL. Symbols previously used by other issuers cannot be reassigned.
8. Is there a tax benefit Is there a tax benefit in Main Board/GEM Board listing?
Answer: Yes, the government also supports and promotes the decision of an organization to list, giving tax benefits (20% tax payable reduction for the first year after listing and 10% tax payable reduction for further two years after listing). These benefits directly impact your bottom line and improve earnings.
9. How do I select a consultant?
Answer: You can select any consultant who has been given a license by SECP.
10. Do I have to give up control of my company to go public?
Answer: No. Many companies structure their offerings so that after the initial offering, the owner(s) still have control. If the shares held by the public are widely distributed, management may maintain effective control, even when it owns less than 50 percent of the shares. If more than 50 percent of a company’s shares are sold to just a few outside individuals, the original owners could lose control of the company.
11. Is the PSX listing process complicated?
Answer: The listing process is not really complicated. A company wishing to apply will be provided with a list of financial advisors who can assist with its preparations.
1. Your Company appoints a “Consultant” and completes submission of all documents
2. Initial review of your Company and necessary due diligence to ensure compliance with the PSX regulations for listing.
3. On behalf of the Exchange, the PSX Listing Committee approves the application.;
4. After the Exchange’s approval, the application is forwarded to SECP for its approval
5. Public offer through fixed price method or book building
6. Your Company is formally listed
12. What is a prospectus?
Answer: It is an official document prepared by the consultant for the potential investors which contains Risk factor, floor price, and the necessary information requires by the investors.
13. Can I exit the market once I list?
Answer: Yes, you can buy back the shares of your company; and in the case of GEM Board, you can migrate to main board.
All companies publicly listed and funded by the general public have the key responsibility of educating and guiding all their shareholders about the company’s past financial performance, challenges, upcoming expansions, future growth outlook etc. This helps active investors in gauging whether or not to invest in your company’s future, as hearing directly from the company is an unmatched source.
PSX constantly endeavor to facilitate this requirement and offer to not only assist you in getting the relevant audience, but also offers PSX premises to facilitate the event. PSX’s team assists in the entire process to maximize Corporate Briefing Program’s productivity. Holding these briefings also qualifies our corporate members for PSX’s prestigious Top Company Awards.
‘Investors both locally and abroad want to hear about the success achieved by businesses in Pakistan, and we strive to make that happen!’
PSX offers all its listed companies an avenue to disseminate all information vital to the public at a national and international level. These services are extended to your corporate analyst briefings, important public disclosures and any other market sensitive information.
The initiative seeks to educate your company personnel on the process of defining their investment objectives, what to expect from the stock market, do’s & don’ts of investing, and how and where to begin when buying stocks. PSX offers to conduct these financial literacy programs at your location as well as offer our own premises free of cost. Our team of professional speakers are trained to introduce the knowledge of your employees in a smooth and effective way.
Beginning a company’s journey towards an IPO is a daunting task requiring efforts on all fronts to maximize the proceeds from a public offering. Keeping the marketing challenges for IPO’s in mind, PSX has created a customized proposition for each Equity based IPO client to introduce the company to the general investment community – including preparing a documentary from concept to execution consisting of short videos, preparing and implementing the digital media plan and ensuring reach of the message. The digital execution and message will have the ability to engage audiences and has to be immediately shared onwards which can increase the reach of the campaign and message multifold.
The documentary may include an interview with the CEO on his vision and mission, brief introductions of key management personnel, tour of the factory or facility, CSR and SDG initiatives, and any other areas highlighting the company’s worth and profile. The documentary will then be pushed online to the relevant audience, to gain traction and boost the company’s offering. The proposal mentioned is linked to one of our media partner Vcast, but companies may choose to engage with a different partner offering similar services, according to individual requirements.
‘In the new digital age, PSX ensures its listing contenders get the projection they deserve to lay the foundation of a successful IPO’
Pakistan Stock Exchange has partnered up with stakeholders to provide value added services for the listed companies on PSX. Training, awareness sessions and webinars among others are being offered to benefit various aspects of your businesses. Please join the upcoming webinars and training programs by viewing the upcoming sessions below and following the link to its registration:
All companies publicly listed and funded by the general public have the key responsibility of educating and guiding all their shareholders about the company’s past financial performance, challenges, upcoming expansions, future growth outlook etc. This helps active investors in gauging whether or not to invest in your company’s future, as hearing directly from the company is an unmatched source.
PSX constantly endeavor to facilitate this requirement and offer to not only assist you in getting the relevant audience, but also offers PSX premises to facilitate the event. PSX’s team assists in the entire process to maximize Corporate Briefing Program’s productivity. Holding these briefings also qualifies our corporate members for PSX’s prestigious Top Company Awards.
‘Investors both locally and abroad want to hear about the success achieved by businesses in Pakistan, and we strive to make that happen!’
PSX offers all its listed companies an avenue to disseminate all information vital to the public at a national and international level. These services are extended to your corporate analyst briefings, important public disclosures and any other market sensitive information.
The initiative seeks to educate your company personnel on the process of defining their investment objectives, what to expect from the stock market, do’s & don’ts of investing, and how and where to begin when buying stocks. PSX offers to conduct these financial literacy programs at your location as well as offer our own premises free of cost. Our team of professional speakers are trained to introduce the knowledge of your employees in a smooth and effective way.
Beginning a company’s journey towards an IPO is a daunting task requiring efforts on all fronts to maximize the proceeds from a public offering. Keeping the marketing challenges for IPO’s in mind, PSX has created a customized proposition for each Equity based IPO client to introduce the company to the general investment community – including preparing a documentary from concept to execution consisting of short videos, preparing and implementing the digital media plan and ensuring reach of the message. The digital execution and message will have the ability to engage audiences and has to be immediately shared onwards which can increase the reach of the campaign and message multifold.
The documentary may include an interview with the CEO on his vision and mission, brief introductions of key management personnel, tour of the factory or facility, CSR and SDG initiatives, and any other areas highlighting the company’s worth and profile. The documentary will then be pushed online to the relevant audience, to gain traction and boost the company’s offering. The proposal mentioned is linked to one of our media partner Vcast, but companies may choose to engage with a different partner offering similar services, according to individual requirements.
‘In the new digital age, PSX ensures its listing contenders get the projection they deserve to lay the foundation of a successful IPO’
Pakistan Stock Exchange has partnered up with stakeholders to provide value added services for the listed companies on PSX. Training, awareness sessions and webinars among others are being offered to benefit various aspects of your businesses. Please join the upcoming webinars and training programs by viewing the upcoming sessions below and following the link to its registration:
Pakistan Stock Exchange has collaborated with the United Nations Development Plan (UNDP) and the Centre for Excellence in Responsible Business (CERB) to facilitate all listed companies in terms of achieving their Sustainable Development Goals (SDG).
Pakistan has embarked on achieving 17 SDG initiatives by 2030. As the industry leaders of the Nation, all listed companies are instrumental in helping Pakistan achieve these goals, hence we require their assistance in filling the survey to understand how companies report on their SDG initiatives.