The Islamabad Chamber of Commerce & Industry in collaboration with Pakistan Stock Exchange Regional Office Islamabad organized an awareness session for the business community on the benefits of listing SMEs on Growth Enterprise Market (GEM) Board of PSX for generating funds and achieving better business growth.
Speaking at the occasion, Asghar Abbas Naqvi, Regional Incharge (North) PSX said that there was lack of awareness in the business community and SMEs about the importance of listing on PSX GEM Board for achieving sustainable growth. He said that the GEM Board helps the listed enterprises in expanding, diversifying and raising capital besides contributing towards the development of the Capital Market of the country which was important for increasing trade, commerce and industry. He said that it was difficult for SMEs to list on PSX as the pre-requisites were tough and the post-listing requirements were not easy to follow for them. He said that the SECP has approved listing regulations of the GEM Board to enable and facilitate the SMEs, greenfield projects, tech start-ups and other companies to conveniently get listed on the PSX and get easy access to capital. He was hopeful that this platform will encourage investors to invest in strong, growing and successful enterprises and companies would also be able to generate required capital for growth and expansion. Thus it would be a win-win platform for investors and SMEs.
In his welcome address, Muhammad Shakeel Munir, President, Islamabad Chamber of Commerce & Industry appreciated PSX for incorporating GEM Board to provide an alternative source of financing to listed SMEs. He said this platform would help SMEs to raise long term low cost capital, get better visibility, enhance public profile of business, improve relations with bankers & suppliers and raise value of business enterprise. He said that capital was necessary for all companies and hoped that ICCI member companies would get listed on GEM Board to raise required funds in order to carry out growth & expansion, diversify products, enhance current capacity, increase operational capabilities, invest in new projects, add value to their products, increase exports and meet working capital requirements with ease.
Mazhar Arshad, Consultant, PSX North gave a detailed presentation to the business community about the procedures and processes for listing of SMEs on GEM Board. He explained the eligibility criteria, minimum capital requirement, initial listing fee and other requirements for listing on GEM Board.
Jamshaid Akhtar Sheikh Senior Vice President and Muhammad Faheem Khan Vice President ICCI thanked PSX Regional Office Islamabad for organizing awareness session at ICCI and hoped that member companies of ICCI would be benefited by listing on GEM Board of PSX for growth and expansion.
Question and answer session was held at the occasion in which the members of the business community asked many questions and got satisfactory answers.