PSX Forms Start-up Board to Help Small, Medium Enterprises
The first listings on the GEM board are expected by the end of this financial year
BUSINESS DESK: The Pakistan Stock Exchange (PSX) has formed a start-up board to help small and medium-sized enterprises through listings in the stock market.
The Growth Enterprise Market (GEM) Board will facilitate small and medium enterprises, greenfield projects and technology start-ups to list on the stock exchange and raise capital.
According to PSX Managing Director Farrukh Khan, about six companies have been part of the listing process so far.
The first listings on the GEM board are expected by the end of this financial year.
According to him, the terms of listing on the GEM board are easy and the costs are low. Small companies appearing on the GEM board can choose the “main board” in the next few years.
Talking to News 360 in this regard, Capital Advisor Muzammil Aslam said that the need for this initiative arose because our investors do not have time in recent times.
That’s why they turn to young people or people who have unique ideas. The term “founders” is now used for these individuals. The main objective is to initiative encourage new founders.
“The move will identify the hidden talent in our society,” he added. There are many people who have unique business ideas that can be useful.
Citing the example of PSL, Muzammil Aslam said that hidden talent came to light through it. Many new players joined the team and made the country famous. During the Corona pandemic, our people built their own ventilators.
He further said that production of cotton and cement is common here but foreigners have lost interest in such items. The market now needs new ideas and this move may prove to be the best.
