Monday, October 3, 2022

PSEB signs tripartite agreement to list 5 IT companies on PSX GEM Board

5 IT and services companies have signed a tripartite agreement with PSEB and AKD Securities (Financial Advisor Lot1) so that they can be listed on the PSX GEM board.

PSEB has started a new program to help forty small and medium-sized information technology and information technology-enabled services (IT/ITeS) businesses join the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX) so they can get access to equity capital and finance their growth plans.

Here are the first IT/ITeS companies that PSEB has picked:

  • Excellence Delivered PLC
  • Innovative Private Limited
  • I Engineering Private Limited
  • Sapphire Consulting Services Private Limited
  • Netsat Private Limited

Under the program, So PSEB will pay for 70% of the listing fees for a company. Through PSEB’s innovative program. IT/ITeS businesses will be able to get millions of rupees in equity capital. Use it to fund their multi-tiered growth strategy. This will put them in a great position to take advantage of business opportunities in India and around the world.

In his opening letter, the PSEB MD wrote, “PSEB seeks to work in a certain way and develop a sustainable IT-enhancing framework to plan and carry out a number of demand and supply-side projects”. By talking to government agencies, PSEB is helping the IT sector in areas like managing human resources. Building up skills, improving IT infrastructure, and also making it easier for businesses to do business.

He said that fewer IT companies would need loans if more IT/ITeS companies became listed on the stock exchange. Working with AKD Securities, which is the market leader in listing services. Will make sure that the project will be successful.

The CEO of AKD Securities thanked PSEB for helping growth firms get the word out to potential investors about their unrealized potential. When it’s on the GEM Board, AKD will be a shining example of IT industry excellence.

Read more: TecBrix gets DevOps Pakistan for $1 Million

He said, “PSEB has a decent shot at convincing regulators to relax standards because it is a government agency. Investor confidence and the success of IT businesses would both increase as a result.”

In every case, the CEOs of the chosen businesses were excited to work with PSEB and AKDS and promised their full support. They thought that PSEB’s plan would help the country make more money from exports, create more jobs, and also start a technological revolution.

Meeting were PSEB’s Managing Director Osman Nasir, AKD Securities Limited’s CEO Farid Alam, and PSEB’s Project Director Talib H Baloch. The CEOs of five applicant companies, and other high-ranking people from PSEB, AKD Securities, and also the applicant companies.

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