Karachi: Pakistan Stock Exchange Limited (PSX) has announced a strategic partnership with 1LINK (Pvt) Limited to overhaul the book building system, enabling online payments exceeding Rs 1 million through the 1LINK 1BILL platform. This collaboration aims to introduce a more efficient and user-friendly interface for market participants utilizing the revamped Book Building System (BBS) developed by PSX.

According to a statement by Pakistan Stock Exchange Limited, the upgraded system will provide advanced functionalities to support multiple book buildings concurrently, catering to institutional and high-net-worth individuals. The agreement, formalized between PSX and 1LINK, was signed by Mr. Farrukh H. Sabzwari, MD and CEO of PSX, and Mr. Najeeb Agrawalla, CEO of 1LINK. The ceremony was attended by key figures, including Mr. Imran Inayat Butt, Executive Director, Securities Market Division of SECP.

Mr. Farrukh Sabzwari, speaking at the event, commended the partnership, highlighting the enhancement of the PSX Book Building System as a significant advancement for the capital market. The revamped system is designed to automate payments and increase limits for book building in an IPO, reflecting PSX's commitment to modernizing the capital markets.

Mr. Sabzwari acknowledged the support of the Securities and Exchange Commission of Pakistan and the State Bank of Pakistan in facilitating the system's development and aligning it with global best practices. He expressed gratitude for their guidance in ensuring the system's successful implementation.

Mr. Najeeb Agrawalla emphasized that the collaboration marks a pivotal moment in transforming Pakistan's capital markets. By facilitating seamless online payments during the IPO book building process, the initiative aims to enhance investor experience and contribute to a more transparent and efficient financial ecosystem.

The enhanced book building system is set to be fully operational in the coming weeks, promising an improved IPO experience for all stakeholders involved.