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–>Lahore Stock Exchange takes pride in welcoming you to the second Pakistan IPO Summit being organised at Karachi on Jul 14th, 2012. Our exchange has been involved with the initiative of the Pakistan IPO Summits right from the beginning and has enlisted the support of many potential IPO companies since the last year. The gradual increase in the number of the potential IPO companies has been a great success of this initiative.
It is hoped that in the years to come we will be able to have a regular line up of many such companies who would graduate to our listing Board on periodic basis. Organizing events such as the IPO Summits is just one effort in many dedicated efforts that need to be undertaken by our capital market institutions. Events like these help us to share broader knowledge about the IPO market and other technical aspects related to the IPO process, however the ultimate success of these efforts would depend upon the active role of the financial advisory companies who are in the business of enabling and preparing such companies for the IPO market. The last IPO event show cased about three dozen potential companies, and many of them are now in the process of due diligence by the financial advisors, and are weighing their options for the ideal time frame for listing. In any case, the IPO market has a long gestation period before the actual IPOs take place and it will be after some time that companies showcased in our IPO events are able to make a debut in our markets. Another factor in the long time being taken by our enterprises is that most of these enterprises happen to be the family businesses and while such businesses are being made aware about the benefits of listings by our markets and that there is a general acknowledgement of the same within the owners of these businesses, however these businesses require some time for converting their financial reporting structure and adopt adequate financial disclosure standards. Nevertheless, the organisation of these Summits has enabled us to establish a direct contact with many enterprises which, once listed, do have the potential of becoming the next generation of the blue chip companies.
The organisation of this Summit would not have been possible without the support and involvement of all our patrons. We are very thankful that Securities and Exchange Commission of Pakistan (SECP) continues to be our lead patron in our effort to enlist more and more companies for listing at our Exchanges in the future. Besides this, the help from our other capital market institutions for this cause has also been vital. Karachi Stock Exchange, Central Depository Company and National Clearing Corporation of Pakistan, have all been engaged with our listing promotion drive since the launch of the first edition of the Pakistan IPO Summit, and I am glad that they continue to support this initiative in every way possible. Besides this, the sponsorship of the event from the financial services industry icons such as AKD Securities, Arif Habib Securities, JS Global, NBP and UBL; and our corporate patrons like the Engro Corporation, Treet, TPL Insurance, Martin Dow Pharma etc, has also been of great value and help in the befitting organisation of this event.
Let’s all hope that events such as these help us to establish the culture of listing on solid foundations and each and every enterprise in Pakistan considers listing as the first step in the journey of rewarding its stakeholders-the investors, the consumers and the society on the whole.
Copyright Business Recorder, 2012