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PakistanKarachiSECPPKR

PSX Stock Loans in Pakistan

Stock loans (securities-backed financing) against shares listed on Pakistan Stock Exchange (PSX) — for family offices, founders and controlling shareholders.

01 · Process
How it works

From enquiry to funding.

StageWhat happensTiming
01Confidential enquiryThe holding and the objective, shared under NDA through a secure channel.Day one
02Indicative termsStructure, sizing and indicative pricing returned against the position.1–2 days
03Structuring & documentationKYC, share and market review; terms formalised under institutional documentation alongside your counsel.1–2 weeks
04Custody & fundingPledged shares held at a qualified custodian; collateral secured and proceeds released.On completion
02 · The Market
Asia

About Pakistan Stock Exchange.

Pakistan Stock Exchange is the principal cash-equity venue of Pakistan. Founded in 2016, it operates under the oversight of Securities and Exchange Commission of Pakistan (SECP), and its leading benchmarks are KSE-100, KSE-30. Listing standards are set out in the PSX Rule Book; Securities Act 2015.

PSX at a glance:

Listed venuePakistan Stock Exchange (PSX)
RegulatorSecurities and Exchange Commission of Pakistan (SECP)
CurrencyPKR
SettlementT+2
Disclosure threshold10%
Principal indicesKSE-100, KSE-30

Formed in 2016 from the integration of the Karachi, Lahore, and Islamabad exchanges. The principal South Asian frontier venue, with concentrated free floats and active single-stock liquidity in the large-cap names.

On the PSX specifically, eligibility turns on where the name sits in the market’s liquidity. KSE-100 and KSE-30 constituents — the large-cap banks, energy, fertiliser and cement names that carry the free float and daily turnover — support the highest loan-to-value; Growth Enterprise Market listings and thinly traded small-caps are financed more selectively. The exchange’s securities lending and borrowing facility, run through NCCPL in a defined list of eligible securities, is a useful read on which lines the market itself treats as liquid enough to lend.

03 · Eligibility
For Institutional Positions

What qualifies on PSX.

PSX is a growth market whose single-stock volatility, free-float distribution and (in places) foreign-ownership limits weigh heavily on eligibility.

For any given PSX position, our review looks at: free float and daily traded volume against the size of the transaction; your status (controlling shareholder, director, substantial shareholder) and the disclosure that follows; the issuer’s sector and listing segment; and what the transaction must do (LTV, tenor, currency, recourse, custody).

04 · Disclosure
SECP

Framework cited on PSX.

The principal regulatory reference on PSX is Substantial-acquisition and beneficial-ownership disclosure under the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations. How it applies to any single transaction — reporting levels, step thresholds — turns on the underlying rules and national-law overlays, which we map against your contemplated transaction at the structuring stage alongside the counsel you appoint.

The citations above are public regulatory references, given for orientation only and not as legal advice. Take independent legal advice in the relevant jurisdiction for any specific transaction.

See the full process →

05 · FAQ
PSX · Stock Loans

What holders ask about PSX.

01Which PSX-listed shares qualify for a stock loan?
As a rule, the more liquid the name, the cleaner the facility. KSE-100 and KSE-30 constituents support the highest loan-to-value; Growth Enterprise Market and thin small-caps are taken case by case. Black Haven quotes indicative terms only after reviewing the specific line — its free float, daily turnover, and any lock-up or substantial-holding restriction.
02How much can I borrow against a PSX-listed holding?
The loan-to-value is set to the specific holding — free float, daily traded volume, volatility, and your regulatory standing. We quote indicative ratios only after reviewing the actual PSX position.
03Which PSX segments can I borrow against?
We look at each case across the segments Pakistan Stock Exchange runs: Main Board; Growth Enterprise Market. Higher tiers are usually simpler to structure, as free float and liquidity are deeper.
04What currency can the facility be drawn in?
The default is PKR, the listing currency. Cross-currency structures are common and readily arranged.
05What is the settlement cycle on PSX?
Equities listed on Pakistan Stock Exchange generally settle on T+2. We align the pledge and the drawdown mechanics to that cycle.
06What is the disclosure threshold on PSX?
The principal level is 10%, under Substantial-acquisition and beneficial-ownership disclosure under the Securities Act 2015 and the Listed Companies (Substantial Acquisition of Voting Shares and Takeovers) Regulations. Crossing it triggers a notification; we map the exact thresholds to your holding.
07How long does a PSX stock loan take to arrange?
Indicative terms within one to two business days of an enquiry, with documentation and funding usually inside about three weeks, depending on custody onboarding and the size of the line.
06 · Other Venues
Pakistan

Other venues.

Hong Kong · Japan · China · South Korea · Taiwan · Singapore

Pakistan overview →

A particular PSX holding to talk through?

Send a confidential enquiry, and a senior principal will reply within one business day.