SECP approves New Nazimabad apartments REIT public offering

According to Mettis Global, the Securities and Exchange Commission of Pakistan has cleared a public offering of units in New Nazimabad Apartments REIT. The approval marks the 13th public offering on the PSX this year, and over 44 million units are set to be sold to investors.

SECP Chairman Dr. Kabir Ahmed Sidhu linked the rising count of offerings to a wider shift toward raising funds through the capital market. In his view, a steady capital market is needed to supply long-term finance to businesses.

Sidhu also said further steps are being taken to shorten the timeline and lower the expense of raising capital in the market. Those steps are intended to make fundraising quicker and less costly for issuers.