SECP & PSX Host IPO Roundtable 2024 in Lahore

The Securities & Exchange Commission of Pakistan (SECP) and the Pakistan Stock Exchange (PSX) joined forces to host the IPO Roundtable 2024 in Lahore, themed ‘Empowering the Future of Capital Markets.’

This roundtable was organized following the successful IPO Summit held in Karachi in January 2024. The primary goal was to raise awareness among growth-driven private companies about leveraging capital markets through Initial Public Offerings (IPOs) to achieve their growth, expansion, diversification, and corporatisation objectives.

Key stakeholders in the capital market participated in the event, including business leaders, market participants, investment banking professionals, regulators, and representatives from potential issuing companies—totaling around 30 companies. Notable attendees included Mr. Akif Saeed, Chairman of SECP; Mr. Abdul Rehman Warraich, Commissioner of SECP; and Mr. Ahmed Chinoy H.I. S.I., a board member of PSX, who led the PSX team.

CTIs (Consultants to the Issue) at the conference were represented by top management from AKD Securities Limited, Arif Habib Limited, Next Capital Limited, Integrated Equities Limited, and Topline Securities Limited. Leadership from various listed companies in the Lahore region, such as Fast Cables Limited, Hi Tech Lubricants Limited, Honda Atlas Cars, Pak Electron Limited (PEL), and Packages Limited, also attended.

The conference aimed to discuss, advise, and facilitate companies in raising equity and debt through the PSX platform. It particularly focused on addressing the concerns and queries of companies looking to list on the Stock Exchange, thereby increasing their understanding of the IPO process. Representatives from listed companies shared their experiences, benefits, and improvements in corporate governance and stakeholder relationships following their listings.

Mr. Akif Saeed, in his welcome address, emphasized that the capital market offers flexible, efficient, and cost-effective solutions for businesses seeking debt and equity capital. He also addressed regulatory measures and ease of listing concerns.

Mr. Ahmed Chinoy added, “After the successful IPO Summit in Karachi earlier this year, hosting this IPO Roundtable in Lahore is a step in the right direction. IPOs go beyond merely raising funds; transitioning from private to public status represents a significant milestone, offering access to a broader pool of capital and enhancing corporate governance and transparency. Today’s session allows us to explore how we can unlock this potential while addressing the challenges companies face in going public.”

Ms. Raeda Latif, Chief Marketing & Business Development Officer at PSX, presented on the benefits of listing for both companies and the economy as a whole.

In closing remarks, Mr. Abdul Rehman Warraich emphasized the importance of adopting corporate governance structures early as companies begin their listing journey and progress forward.