By Rafiq Vayani
KARACHI: Pakistan Stock Exchange Limited (PSX) is pleased to announce the signing of an Agreement between PSX and 1LINK (Pvt) Limited (1LINK) to revamp the book building system of PSX. This groundbreaking development will allow participants to make payments online in excess of Rs 1 million through the 1LINK 1BILL platform utilising the revamped Book Building System (BBS) developed indigenously by PSX.
The revamped system features advanced functionalities with a user-friendly interface capable of catering to multiple Book Buildings simultaneously for all market participants. The upgraded BBS introduces a series of advanced features aimed at improving the overall experience of both institutional and high-net-worth individuals during the bidding process.
The Agreement formalised 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. This Agreement reflects PSX’s commitment to modernise the capital markets by making it more accessible for participants and is aimed at enhancing convenience while ensuring greater transparency and efficiency”.
Mr. Sabzwari added, “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. We also thank them for offering invaluable guidance for ensuring alignment with global best practices.”
Mr. Najeeb Agrawalla, CEO of 1LINK, stated, “This collaboration with PSX represents a major leap forward in transforming Pakistan’s capital markets. By enabling seamless online payments during the IPO Book Building process, we are not just enhancing investor experience but also contributing to a more transparent, efficient, and accessible financial ecosystem. We are proud to be part of this milestone development”.
The full rollout of the enhanced book building system is expected in the coming weeks, promising a seamless and efficient IPO experience for all stakeholders.
rafiq@biztoday.news
