Pakistan Software Export board (PSEB) and AKD Securities (Financial Advisor Lot1) have signed a tripartite agreement with five IT/ITeS Companies for their enlisting on psx GEM in a ceremony held in Karachi on Monday.
Another Milestone To Increase Presence Of IT Industry On PSX , PSEB Managing Director Osman Nasir, AKD CEO Securities Limited Farid Alam, PSEB Project Director Talib H Baloch, and Chief Executives of 5 applicant companies and representatives from senior management of AKDS, PSEB and 5 applicant companies were also present during the ceremony, said a news release. In continuation of its endeavor to help grow IT Industries at multiple levels, the PSEB has launched its unique initiative to enlist 40 small and medium-sized enterprises (SME) with an IT/ITeS background on the Growth Enterprise Market (GEM) Board of the pakistan stock exchange (PSX) to raise equity capital through PSX and fund their expansion plans. In first round of selection of IT/ITeS companies, the PSEB has selected M/s Excellence Delivered Private Limited, I Engineering Private Limited, Sapphire Consulting Services Private Limited, Netsat Private Limited and Innovative Private Limited for GEM Board listing initiative. Under the program, the PSEB will sponsor 70 per cent of the listing cost incurred on a selected company’s listing. Through this unique initiative of PSEB, IT/ITeS companies will raise millions of rupee as equity capital and will able to fund their plan for growth at multiple levels, thus, positioning themselves to exploit the national and international level business opportunities.
“PSEB endeavor to work in a direction and devise a sustainable IT enhancing framework to plan and implement various projects in every domain of demand and supply side. Under this vision PSEB is undertaking various initiatives to help IT Industry in human resource management, capacity building and , IT infrastructure and ease of doing business through dialogues with different regulators”, said Osman Nasir in his welcome note at the ceremony. “Listing of IT/ITeS Companies on stock exchange will open up access to capital and will provide relief to the IT companies addressing their capital needs. Partnering with AKD Securities will assure the success of the project as AKDs are and want to be the front runners in providing quality services for the listing of companies,
AKDs CEO Farid Alam said “AKDs appreciate the valuable interaction with PSEB whereby they are assisting the growth companies to shine up their potential through marketing their untapped potential to the futuristic investors. He said the AKD was all set to perform its role to make the opportunity of GEM Board listing to a real GEM for the IT Industry. He further emphasised, “PSEB being government own body is well positioned to help convincing regulators to sublime the regulation creating enabling environment for investors to invest and tech companies to grow.” The chief executives of the selected companies showed excitement about availing this opportunity partnering PSEB and AKDS, and assured their full support during the process. They were of the view that the initiative of PSEB will help expand export base of the country, create employment and bring tech revolution in the country in year to come.
Source: This news is originally published by urdupoint