Nine PSX listings generate Rs31bn in 2021 – Newspaper
KARACHI: As many as nine listings on the Pakistan Stock Exchange (PSX) generated a total of 30.92 billion rupees in 2021, according to data obtained from the Securities and Exchange Commission of Pakistan.
Eight companies raised equity capital amounting to Rs 19.9 billion while Bank Alfalah Ltd listed its Rs 11 billion debt instrument on the PSX in the last calendar year.
Two of the nine listings were on PSX’s new Growth Enterprise Market (GEM) counter, which is reserved for smaller, riskier companies than those listed on the main board. These two listings were for Pak Agro Packaging Ltd and Universal Network Systems Ltd which generated Rs 198 million and Rs 445.7 million respectively.
The largest equity-generating listing in 2021 was Airlink Communications Ltd (6.4 billion rupees), followed by Pakistan Aluminum Beverage Cans Ltd (4.6 billion rupees), Panther Tires Ltd (2.6 billion rupees), Citi Pharma Ltd (2.3 billion rupees), Service Global Footwear Ltd (2.1 billion rupees) and Octopus Digital Ltd (1.1 billion rupees).
In addition, “new capital issue” transactions on the PSX amounted to a total of Rs 61 billion in 2021. These included rights issues (Rs 33.3 billion), rights issues preference (1.9 billion rupees), other than rights issues (25.19 billion rupees). ) and employee stock options (Rs450.7m).
Talk to Dawn, PSX Managing Director Farrukh H. Khan said 2021 has seen a recovery in IPOs after many years of subdued capital formation on the national stock market. “The number of registrations has been minimal for a while. Despite a challenging environment and the Covid-19 induced lockdowns, I am pleased that we were able to relaunch the IPO window,” Mr. Khan said.
He went on to say that up to five new IPOs are expected before the end of 2021-22 on June 30. “I won’t use the word ‘record’ because we had a lot of IPOs in the 1990s. But I’m confident that the current fiscal year will see the highest number of IPOs in history. recent.
I expect four to five IPOs, or maybe more, by the end of June,” he said.
Separately, two to four new listings at the GEM counter are also expected in the coming months, he added.
Since four entries have already taken place on the main draw and two on the GEM counter since the start of 2021-22, the number of new offers may reach 13 in the current fiscal year.
“We received many applications. Depending on the macroeconomic situation, we expect a lot of activity in the coming months,” Khan said.
Posted in Dawn, January 16, 2022