PSX, 1LINK sign agreement to enhance book building process

KARACHI: The Pakistan Stock Exchange Limited (PSX) has signed an agreement with 1LINK (Pvt) Limited (1LINK) to revamp the book building system of the PSX. This groundbreaking development will allow participants to make payments online in excess of Rs1 million through the 1LINK 1BILL platform utilising the revamped Book Building System (BBS) developed indigenously by the 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 was signed by MD and CEO of the PSX Farrukh H Sabzwari and CEO of 1LINK Najeeb Agrawalla.

Sabzwari said, “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 the 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.”

He added, “The 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.”

Agrawalla said, “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.” 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.