Clarification

Apropos a news item, titled ‘PSX plans crowdfunding platform for tech start-ups’, published in The News on April 18, the Pakistan Stock Exchange clarified that the proposed ‘Private Market’ will not be a crowdfunding platform.

“PSX Private Market would be a web-based platform to bring together start-ups and investors,” it said in a statement.

The PSX said the objective of the private market would be to enhance access to finance for startups by providing them an online platform where they can sign up and register themselves. 

“Start-ups and investors would operate on the ‘find, match and deal’ mechanism, whereby both would be connected to provide a low-cost solution to the financing needs of start-ups and liquidity placement needs of investors,” it added.