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The first Chinese-funded company has been listed on the Pakistan capital market.
On June 15, the Pakistan Stock Exchange (PSX), whose leading shareholders include a Chinese consortium such as the China Financial Futures Exchange, welcomed the listing of the first Chinese-funded company. This event simultaneously broke many records in the Pakistan capital market, signifying that cooperation under the China-Pakistan Economic Corridor has entered a new dual-driven stage of "industry + capital" from merely industrial investment.
The first Chinese-funded company was listed on the Pakistan capital market and set many records there. The amount raised through its Initial Public Offering (IPO) reached approximately 28 million US dollars, with an oversubscription of 16.7 times. The full subscription was completed in just 5 seconds, setting records for the highest subscription amount and fastest subscription on the Pakistan Stock Exchange.
Yu Hang, Vice President of the China Financial Futures Exchange and a Chinese-side Director of the Pakistan Stock Exchange, stated, "This is a milestone event for China-Pakistan economic cooperation. This time, we have completed a perfect closed-loop, from technology introduction and implementation of production capacity to ultimate integration into the capital market."
Farrukh H. Sabzwari, Administrator of the Pakistan Stock Exchange, pointed out, "This fundraising project injected new vitality into the Pakistan Stock Exchange and also provided a model effect for other companies cooperating with China." (Source: CGTN Japanese)