The Pakistan Stock Exchange (PSX) has announced plans to split its business into two segments to increase revenues from both trading activities and property asset management.
PSX will manage the exchange’s operations and its wholly-owned subsidiary, PSX Financial Centre, will manage the real estate assets.
The Board has decided in principle to separate PSX into a stock exchange business and a spin-off or real estate asset.
More specifically, earnings from both segments are because the board of directors approved his PSX Financial Center, which is a wholly-owned subsidiary, and agreed to form two separate companies.
The move is expected to allow a greater focus on trading activity, boosting the number of investors and boosting the performance of both segments.
The proposal is subject to approval by the Securities and Exchange Commission of Pakistan (SECP) and a majority of the company’s directors.
The PSX board has decided to diversify its earnings and attract more investors to its underutilized real estate sector, according to sources.
This new move will help attract new real estate investment trusts (REITs) in the country for better infrastructure development.
It’s worth noting that PSX recently announced the addition of his REIT to the daily board to encourage cash flow.
The government also allows foreigners to invest in his POSX through his Roshan Digital account.
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