E-IPO, e-dividend concept introduced for capital market

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ISLAMABAD, May 13 (APP): In order to facilitate the public by providing efficient, easy and hassle-free mechanism to apply for subscription of securities of companies offered for sale through initial public offerings (IPOs), the concept of Centralized e-IPO system (CES) has been introduced.
The CES concept has been introduced by Central Depository Company (CDC) with active support of 1Link (Guarantee) Limited and under the guidance of the Securities and Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP).
Under the newly introduced Centralized e-IPO system, application for subscription of securities can be made electronically, according to a SECP press statement issue here.
Investors having a valid CNIC, bank account with any scheduled bank and CDC account can electronically register themselves – 24/7 throughout the year on www.cdceipo.com.
Only registered investors can apply for the subscription of securities through any of the banking channels (ATM, net banking, mobile App and over the counter).
Furthermore, CDC, with the lead support of the SBP, is in the process of introducing e-dividend concept. The implementation of e-dividend concept will assure electronically credit of dividend into the bank accounts of the investors.
On the one hand, e-IPO system will, 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.
E-dividend concept would remove the inefficiencies relating to the payment of dividend through dividend warrants.
With the active support of the SBP, the SECP has instituted various measures to utilize the efficient banking channels to support a more efficient and hassle-free mechanism for investors of capital market.