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A public issuance of debt securities provides issuers with access to large pools of funds through the numerous investors who invest in listed instruments.
By listing bonds of a company to raise capital, the equity of the company is not diluted.
The liquidity created by listing debt securities enables companies to raise long term debt securities as individual investors may exit when they require cash flow. Listed debt securities therefore are issued at a lower interest rate as liquidity risk is significantly reduced.
A company may apply for listing of its debt securities offered and issued to QIBs throughprivate placement under Chapter 5C of PSX Regulations, provided that:
[Explanation No. 1: An instrument in the nature of redeemable capital may have the conversion option i.e. the option of conversion into ordinary shares of the issuer.]
[Explanation No. 2: This clause (x) shall not apply to an issue of perpetual debenture or any other perpetual debt security.]
For listing of a debt security, the following procedure shall be followed:
A company applying for listing of its debt security under Chapter 5C of PSX Regulations shall pay to the Exchange an initial and annual listing fee at the rate as mentioned below:
Any Issuer may apply for listing of its Debt Securities offered to the General Public under chapter 5B of the PSX Regulations provided it fulfills the following criteria:
The Issuer that intends to list any of its Debt Securities on the Exchange shall comply with the following conditions: Minimum allocation of capital to the General Public excluding the Pre-IPO investors shall be as under:
For listing of Debt Securities under chapter 5B of the PSX Regulations following procedure shall be followed:
The Issuer shall for listing of any of its Debt Securities, make an application on Form-A to the Exchange along with the documents/information as mentioned
in Annexure-I.
The Issuer shall pay an initial listing fee of such amount as mentioned in regulation 5B.9.
Trading in Debt Securities listed under chapter 5B of the PSX Regulations shall commence one day after the date of their formal listing;
The Debt Securities shall be traded at the Exchange’s Bond Automated Trading System (BATS);
The Issuer is required to appoint Market Maker and Compliance Officer, who shall be responsible to their respective functions as laid down in under the relevant Regulations
The Issuer shall pay to the Exchange initial listing fee and annual listing fee at the rate as mentioned below:
The brokerage commission under the public offer shall be payable to the TRE Certificate Holders of the Exchange at the rate of 0.25 percent of the value of debt security actually sold through them.
The Exchange will list the short - term debt instruments in the form of a short term finance certificate issued by the listed companies as well as non - listed companies. There is no compulsory requirement of public offering where the debt instrument is issued for a maximum period of 365 days and its size is upto Rs. 100 million. The public offering where required shall be at least Rs. 200 million or 20% of the total issue size, whichever is lower.
Whether you are just gathering information for a possible IPO in the future, or you are actually planning or preparing for IPO the Business Development team of PSX is here to offer assistance.
PSX Debt Security Information Desk is here to provide you with more information, answer any questions you may have and create an effective solution for your instructional needs. Please complete the form below, so we can provide quick and efficient service. If this is an urgent matter, please contact Customer Support:
Email: sami.shakeel@psx.com.pk
Telephone: +92-2135274574 Ext. 4574
Email: Sarmad.Hussain@psx.com.pk
Telephone: +9221 111-001122 Ext: 4653| Direct: 042-36316974
Email: saqib.ali@psx.com.pk
Telephone: 111-001-122 Ext. 4637 | Direct: 021-35274673
Email: listing@psx.com.pk
Pakistan Stock Exchange brings one stop solution for all the listed companies, now companies can just subscribe to one of the Package and receive the following services during the year:
Packages Starting from PKR 450,000+Tax.
Packages for New listed Companies (Companies listed post July 2021)
Packages for Listed Companies (Companies listed before July 2021)
The suite will include the following:
All companies publicly listed and funded by the general public have the key responsibility of educating and guiding all their shareholders about the company’s past financial performance, challenges, upcoming expansions, future growth outlook etc. This helps active investors in gauging whether or not to invest in your company’s future, as hearing directly from the company is an unmatched source.
PSX constantly endeavor to facilitate this requirement and offer to not only assist you in getting the relevant audience, but also offers PSX premises to facilitate the event. PSX’s team assists in the entire process to maximize Corporate Briefing Program’s productivity. Holding these briefings also qualifies our corporate members for PSX’s prestigious Top Company Awards.
‘Investors both locally and abroad want to hear about the success achieved by businesses in Pakistan, and we strive to make that happen!’
PSX offers all its listed companies an avenue to disseminate all information vital to the public at a national and international level. These services are extended to your corporate analyst briefings, important public disclosures and any other market sensitive information.
The initiative seeks to educate your company personnel on the process of defining their investment objectives, what to expect from the stock market, do’s & don’ts of investing, and how and where to begin when buying stocks. PSX offers to conduct these financial literacy programs at your location as well as offer our own premises free of cost. Our team of professional speakers are trained to introduce the knowledge of your employees in a smooth and effective way.
Beginning a company’s journey towards an IPO is a daunting task requiring efforts on all fronts to maximize the proceeds from a public offering. Keeping the marketing challenges for IPO’s in mind, PSX has created a customized proposition for each Equity based IPO client to introduce the company to the general investment community – including preparing a documentary from concept to execution consisting of short videos, preparing and implementing the digital media plan and ensuring reach of the message. The digital execution and message will have the ability to engage audiences and has to be immediately shared onwards which can increase the reach of the campaign and message multifold.
The documentary may include an interview with the CEO on his vision and mission, brief introductions of key management personnel, tour of the factory or facility, CSR and SDG initiatives, and any other areas highlighting the company’s worth and profile. The documentary will then be pushed online to the relevant audience, to gain traction and boost the company’s offering. The proposal mentioned is linked to one of our media partner Vcast, but companies may choose to engage with a different partner offering similar services, according to individual requirements.
‘In the new digital age, PSX ensures its listing contenders get the projection they deserve to lay the foundation of a successful IPO’
Pakistan Stock Exchange has partnered up with stakeholders to provide value added services for the listed companies on PSX. Training, awareness sessions and webinars among others are being offered to benefit various aspects of your businesses.
Basic PKR 450,000 + Tax | |||||
Service | Quantity | ||||
Auditorium for Corporate Analyst Briefing /Product Launch/Media Briefing/ Webinars
|
1
| ||||
Orientation of PUCARs interface
|
1
| ||||
Regulatory Affairs Training for Co. Secretary (PSX related)
|
1
| ||||
Directors Training Program conducted by PICG
|
1
| ||||
Workshop by PICG
|
1
|
Premium PKR 850,000 + Tax | |||||
Service | Quantity | ||||
Auditorium for Corporate Analyst Briefing /Product Launch/Media Briefing/ Webinars
|
2
| ||||
Orientation of PUCARs interface
|
1
| ||||
Regulatory Affairs Training for Co. Secretary (PSX related)*
|
1
| ||||
Directors Training Program conducted by PICG
|
2
| ||||
Workshop by PICG
|
2
|
*Option for refresher during the year
Basic PKR 450,000 + Tax | |||||
Service | Quantity | ||||
Auditorium for Corporate Analyst Briefing /Product Launch/Media Briefing/ Webinars
|
1
| ||||
Regulatory Affairs Training for Co. Secretary (PSX related)
|
1
| ||||
Orientation of PUCARS Interface
|
1
| ||||
Directors Training Program conducted by PICG
|
1
| ||||
Workshop by PICG
|
2
|
Standard PKR 550,000 + Tax | |||||
Service | Quantity | ||||
Auditorium for Corporate Analyst Briefing /Product Launch/Media Briefing/ Webinars
|
2
| ||||
Regulatory Affairs Training for Co. Secretary (PSX related)
|
1
| ||||
Orientation of PUCARS Interface
|
1
| ||||
Directors Training Program conducted by PICG
|
1
| ||||
Workshop by PICG
|
3
|
Premium PKR 900,000 + Tax | |||||
Service | Quantity | ||||
Auditorium for Corporate Analyst Briefing /Product Launch/Media Briefing/ Webinars
|
2
| ||||
Regulatory Affairs Training for Co. Secretary (PSX related)
|
1
| ||||
Orientation of PUCARS Interface
|
1
| ||||
Directors Training Program conducted by PICG
|
2
| ||||
Workshop by PICG
|
4
|