CDC and 1Link sign an agreement for processing of payments for Centralized eIPO system
Central Depository Company of Pakistan Limited and 1LINK (Guarantee) Limited recently signed an agreement for processing of payments as part of the Centralized eIPO System, at CDC House. The agreement was signed by Mr. Aftab Diwan, CEO – CDC and Mr. Najeeb Agrawalla, CEO – 1LINK. Mr. Shahid Nasim – Executive Director, SECP, Mr. Khurram Gul Agha – Director and Chairman BD Committee, 1LINK & Head of IT and Transaction Banking Faysal Bank, Mr. Arshad Khan – Senior Joint Director, SBP and Mr. Muhammad Ali Sario – Joint Director, SBP, were also present on this occasion, with team members.
It is important to note that CDC recently introduced Centralized eIPO System (CES) under the guidance of the Securities and Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP). eIPO is an efficient, easy and hassle-free mechanism that lets investors apply for the subscription of shares of companies, offered to general public.
The investors having a valid national identity card, bank accounts in scheduled banks and CDC accounts can electronically subscribe IPO on www.cdceipo.com which is now accessible for registration as well. The eIPO system will help increase the outreach of IPOs, promote the culture of keeping securities in book-entry form and will make the IPO process more user-friendly and efficient.
The said Centralized eIPO System will be available for upcoming IPO of Ittefaq Iron Industries Limited. Internet and Mobile banking and the Over the Counter (OTC) payment channel will soon become available for this IPO through a number of banks, the list of which is provided on the said website.