KARACHI    -   JS Global has been appointed Financial Advisor for listing of eight IT/ITeS com­panies on GEM Board of PSX by Pakistan Software Export Board (PSEB).

JS Global Capital Limited, one of Pak­istan’s leading equity brokerage and investment banking firms, has been appointed as Financial Advisor for list­ing of eight IT/ITeS companies on GEM Board of the Pakistan Stock Exchange (PSX). JS Global was awarded the mandate by Pakistan Software Export Board (PSEB) which functions under the Ministry of Information Technol­ogy and Telecommunication (MoITT). PSEB aspires to list 40 IT/ITeS com­panies on the GEM Board as this will provide critical funding to technology companies and help them expand their businesses. 

The signing ceremony was held on August 26th, 2022, at JS Group’s head office in Karachi. JS Global was rep­resented by CEO Kamran Nasir and Imtiaz Gadar (Deputy CEO) while key officials from PSEB included Talib Hussain Baloch (Project Director) and Osman Nasir (former MD PSEB) and senior management. The event was also graced by PSX management led by CEO/MD Farrukh Khan. 

MD PSX, Farrukh Khan, stated, “It is commendable that PSEB has onboard­ed JS Global as Advisor. This develop­ment augurs well for IT/ ITes sector. For economic growth, it is important that the IT/ITes sector grows and that can be possible with companies focused on IT exports enlisting on PSX. The MOU signed between PSX and PSEB in 2021 to facilitate 40 IT companies to list on the GEM Board caters to the challenge of access to affordable capital, faced by IT companies in their efforts towards growth and expansion”.

CEO JS Global Kamran Nasir com­mended PSEB and said, “We are honored to play our part in uplifting Pakistan’s future which lies in IT. IT exports have grown tremendously over last 2-3 years and we hope this trend continues. JS Global’s track record in such transactions is no secret, having conducted the larg­est private sector IPO and recently being mandated for raising capital for the larg­est refinery expansion in Pakistan’s his­tory.” Talib Baloch remarked, “One major impediment in growth of our IT sector is access to capital and GEM Board is the ul­timate marketplace for tech to raise capi­tal. We hence collaborated with PSX to connect capital market with investment opportunities offered by the IT sector to increase number of listed IT companies to enhance IT exports. We appreciate the progressive role of PSX in making the capital market vibrant and attractive for investors and tech companies. We see the partnership with JS Global as a major milestone in achieving PSEB’s objective of supporting IT companies to raise capi­tal and become full-fledged contributors to the economy.”