he Pakistan Stock Exchange (PSX) is the stock exchange of Pakistan with trading floors
in Karachi, Islamabad and Lahore. PSX is part of the MSCI Emerging Markets Index.
PSX was established on the 11th of January 2016 after the merger of individual stock exchanges
of Karachi, Lahore and Islamabad. PSX's origin's where laid with the establishment of
the Karachi Stock Exchange in 1947, the Lahore Stock Exchange in 1970 and the Islamabad
Stock Exchange in 1992. As of December 22, 2016, there are 558 companies listed in PSX and
the total market capitalization is Rs.9, 312,236.28 million ($88.811 billion).
The investors on the exchanges include 1,886 foreign institutional investors and 883 domestic
institutional investors along with about 0.22 million retail investors. There are also about 400
brokerage houses which are members of the PSX as well as 21 asset management companies.
PSX is the among the world's best performing stock market's, between 2009 and 2015 it
delivered a 26% a year. On December 2016, PSX sold 40% strategic shares to a Chinese
consortium for $85 million
Pakistan Stock Exchange (PSX) Limited came into existence in January 2016 when Government
of Pakistan decided to merge 3 big exchange markets of the country into one big market
Karachi Stock Exchange
Founded on September 18, 1947, Karachi Stock Exchange Limited (KSE) was registered
in Pakistan. The Karachi Stock Exchange Limited (KSE), was a stock exchange located at the
Stock Exchange Building (SEB) on Stock Exchange Road, in the heart of Karachi's Business
District, I. I. Chundrigar Road, Karachi, Sindh Province of Pakistan. It was Pakistan's largest and
one of the oldest stock exchange in South Asia. Karachi Stock Exchange was also listed among
10 best stock markets in the world in 2015. According to Bloomberg, the Pakistani
benchmark stock market index is the third-best performer in the world since 2009.[19] In June
2015, Khaleej Times reported that since 2009, the Pakistani equities delivered 26 percent a year
for US dollar investors, making Karachi the best-performing stock exchange in the world. As on
July 10, 2015, total market capitalization reached Rs. 7.33 trillion (US$72 billion approximately)
Lahore Stock Exchange
Lahore Stock Exchange (Guarantee) Limited (LSE) was Pakistan's second largest stock
exchange after the Karachi Stock Exchange. It is located in Lahore, Pakistan. It was formally
inducted into the national Pakistan Stock Exchange on the 11th of January 2016. The Lahore
Stock Exchange (Guarantee) Limited came into existence in October 1970, under the Securities
and Exchange Ordinance of 1969 by the Government of Pakistan in response to the needs of the
provincial metropolis of the province of Punjab. It initially had 83 members and was housed in a
rented building in the crowded Bank Square area of Lahore. The number of listed companies has
increased to 519 since its inception. The LSE has 152 members of which 81 are corporate, and
54 are individual members. The LSE was the first stock exchange in Pakistan to use the internet
and currently 50% of its transactions are via the internet.
Islamabad Stock Exchange
Islamabad Stock Exchange or ISE was the youngest of the three stock exchanges of Pakistan and
is located in the capital of Islamabad. Islamabad stock exchange (ISE) was incorporated as
a guarantee-limited company on 25 October 1989 in Islamabad. ISE tower is a 22 storey
building, which makes it the second highest building of Islamabad after the Telecom Tower. Area
covered by the building is 562,629 sq ft (52,269.9 m2), it consists of three levels of basements
and ground plus 18 floors above.
Overview
Vision
To be a leading financial institution, offering efficient, fair and transparent securities market in
the region and enjoying full confidence of investors and listed securities issuers.
Mission
To strive to provide quality and value-added services to the capital market in an efficient,
transparent and orderly manner, compatible with international standards and best practices.
To provide state-of-the-art technology and automated trading operations, driven by a team of
professionals in accordance with good corporate governance.
To protect and safeguard the interests of all its stakeholders i.e. members, listed companies,
employees and investors at large.
To reflect the corporate sector and countrys economic health and play its role for the growth,
development and prosperity of Pakistan.
About PSX
The Exchange was incorporated in 1949 as a company Limited by Guarantee. As a result of
demutualization, the Exchange stood corporatized and demutualized as a public company limited
by shares under the name of Karachi Stock Exchange Limited, with effect from August 27,
2012. Subsequently, the three stock exchanges namely Karachi Stock Exchange, Lahore Stock
Exchange & Islamabad Stock Exchange were integrated into Pakistan Stock Exchange Limited
(PSX) on January 11, 2016.
PSX provides a reliable, orderly, liquid and efficient digitized market place where investors can
buy and sell listed companies common stocks and other securities. For over 60 years, the
Exchange has facilitated capital formation, serving a wide spectrum of participants, including
individual and institutional investors, the trading community and listed companies.
PAST
Incorporated on March 10, 1949 as a company Limited by Guarantee
Exchange having 200 members
Started with 5 companies that had a paid up capital of Rs. 37 million
Trading was conducted through an open out-cry system
KSE 50 Index was the first index
PRESENT
Electronic Trading through KATS
Internet Based Order Routing System-KITS
Currently, the following 7 indices are quoted:
KSE 100
KSE 30
KSE All Share Index
KMI 30
PSX KMI All Shares Index
Oil & Gas Sector
Banking sector
Markets Index to MSCI Emerging Markets Index with effect from June, 2017
A Company limited by shares, with the initial share capital equally allotted to 200 initial
members after integration is now allotting share capital to around 400 members
559 companies listed
Market Capitalization US $ 72.3 billion (June 30, 2016)
Government Debt Securities Trading
REITs
Capital Market Hub in Abbottabad
Offices in Lahore and Islamabad
Bond Market Index (Beta Version)
FUTURE
Products in pipeline:
Bond Market Index
Exchange Traded Funds
Fixed Income Derivatives
Index Options
Single Stock Options
SME Board
Securities Lending & Borrowing
BANKS
Allied Bank of Pakistan Limited
Askari Bank Limited
Bank Al Falah Limited
Bank Al Habib Limited
Bank Islami Pakistan Limited
Bank of Khyber
Dubai Islamic Bank Pakistan Limited
Habib Bank Limited
Habib Metropolitan Bank Limited
JS Bank Limited
MCB Bank Limited
National Bank of Pakistan
NIB Bank Limited
Sindh Bank Limited
Soneri Bank Limited
Summit Bank Limited
United Bank Limited
Listing Procedures
Equity Listing on Normal Counter
Listing - Introduction
Documents Checklist & Forms
Listing on Over-the-Counter (OTC)
Listing - Introduction
Documents Checklist & Forms
Listing of Debt Market Securities on OTC market issued to QIBs through private
placement
Introduction & Listing Procedure
Documents Checklist & Forms
Listing of Long Term Debt Instruments, both Listed & Non-Listed Companies
Introduction
Listing Procedure
Documents Checklist & Forms
Listing of Short Term Debt Instruments, both Listed & Non-Listed Companies
Introduction
Listing Procedure
Documents Checklist & Forms
Listing of Closed-End Mutual Funds
Listing of Closed End Mutual Fund - Introduction
Documents Checklist & Forms
Listing of Open-End Mutual Fund
Listing of Open End Mutual Fund - Introduction
Documents Checklist & Forms
Listing of Different Kinds & Classes of Shares
Introduction
Listing Procedure-Diff Kinds & Classes of capital
Documents Checklist & Forms
