KARACHI: Pakistan Stock Exchange (PSX) has listed a second company on its Growth Enterprise Market (GEM) Board within 10 days, while a significant number of offerings are in line, bourse’s top official said, as Universal Network Systems Limited (UNS) commenced trading on Monday.
“This listing comes in quick succession to the first listing on the GEM Board, which took place 10 days ago and we have a robust pipeline for future listings,” PSX managing director Farrukh Khan said.
“[The] GEM Board is an important innovation in Pakistan’s capital market and will support the financing needs of the hugely important and vibrant SME [Small and Medium Enterprise] sector by enabling them to raise debt and equity capital, at a low cost and with ease.”
Khan said that the GEM Board would also help the full value chain of early stage financing in Pakistan, which was really taking off now.
“So now, not only can smaller companies raise growth capital but early investors will also have a viable exit opportunity by listing on the GEM Board.”
Universal Network Systems Limited is the second company to commence trading on the Growth Enterprise Market (GEM) Board of the Pakistan Stock Exchange (PSX), a listing platform created to facilitate growth enterprises, whether small, medium or greenfield businesses for their capital raising needs.
A gong ceremony was held to inaugurate the second listing on the GEM Board and to open the trading day.
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