SECP and PSX hold ‘IPO Roundtable’ to empower companies for stock market listing

LAHORE: The Securities and Exchange Commission of Pakistan (SECP) and Pakistan Stock Exchange (PSX) jointly hosted the IPO Roundtable 2024 in Lahore, themed ‘Empowering the Future of Capital Markets’.

The focus of the roundtable was to generate awareness among growth-driven private companies on how they can leverage the capital markets (IPO) to achieve their vision of growth, expansion, diversification and corporatisation.

The aim of the conference included discussing, advising and clearing the pathway to encourage companies to raise equity and debt through the PSX platform.

Particularly, the conference addressed the concerns and queries of companies aspiring to list on the stock exchange with the objective of increasing their understanding of the IPO process and facilitating them.

The listed companies’ representatives shared their motivation and results, and discussed how their corporate governance and relationship with their stakeholders improved post-listing. Speeches, briefings and discussions held by the leadership of the SECP, PSX, CTIs and the listed companies aimed at encouraging potential issuers and unlisted companies to list and providing them the necessary guidance from a regulatory and procedural standpoint.

Key capital market stakeholders, including business leaders, market participants and consultants to the issue, investment banking professionals, regulators and potential issuers (totalling 30 companies) participated in the roundtable. Prominent participants included Chairman of the SECP Akif Saeed; Commissioner SECP Abdul Rehman Warraich, and team members from the Securities Market Division of the SECP. The PSX’s board member Ahmed Chinoy led the team from the PSX.

In his welcome address, Saeed highlighted that the capital market provides flexible, efficient and cost-effective solutions to businesses pursuing debt and equity capital raising options depending on their needs.

He discussed the regulatory measures and responded to queries regarding ease of listing from a regulatory perspective.Chinoy said that it was indeed a step in the right direction that after the successful convening of the IPO Summit in Karachi earlier this year, “we are now holding this important IPO Roundtable in Lahore”.

IPOs are much more than just a means for companies to raise funds.The transition from private to public market status represents a significant milestone in any company’s journey, offering access to a broader pool of capital and the prospect of increasing corporate governance & transparency. Today’s session gives us a unique opportunity to explore how we can further unlock this potential by addressing the challenges that companies face when considering going public”.

Chief Marketing and Business Development Officer at the PSX Raeda Latif delivered a presentation on the benefits of listing, both for companies and the economy.In his concluding remarks, the SECP commissioner stressed the importance of early adoption of corporate governance structures as companies embark on their journey towards public listing.