巴基斯坦证券交易所中小企业板建设初探

Development of Small and Medium Enterprises Board of Pakistan Stock Exchange:A Primary Study

巴基斯坦证券交易所是巴基斯坦唯一的全国性证券交易所。由我国交易所牵头的收购联合体于2017年年初完成了对巴基斯坦证券交易所40%战略股权的收购。发展多层次的股票市场,特别是建设中小企业板市场,是巴基斯坦《证券交易所公司化、去互助化及一体化法案(2012年)》要求的改革重点之一,也是中方入股后的一项重要工作。本文通过对巴基斯坦证券交易所股票市场现况和中小企业板现有规则进行分析,结合国际经验,提出了巴基斯坦证券交易所中小企业板建设的相关建议。

Pakistan Stock Exchange is the single national stock exchange in Pakistan.A consortium led by Chinese exchanges acquired 40% of PSX's strategic stake in early 2017.The development of a multitiered stock market,especially construction of the Small and Medium Enterprises(SME)Board,is one of the emphases of Stock Exchanges(Corporatization,Demutualization and Integration)Act,2012 and an important task of the Chinese Consortium.Based on analyses of current situation of PSX's stock market and rules of SME Board,integrated with international practices,the article put forward relevant advice for the development of SME Board.