About the Pavian Stock Exchange
The Pavian Stock Exchange (PSE) is a first-of-its-kind market for publicly traded securities on CivMC. With an aggregate value of all its companies being well over 1,000,000 diamonds. This massive system is enabled by Monument Bank and its Bertha bot, which hosts the shares for the exchange. Designed and developed by Cissonius, ArtificialDriver and BritishWanderer this system functions much like a simpler version of the real world counterparts. There are currently 7 publicly traded companies on CivMC of all sizes ranging from operating at a few hundred diamonds a quarter in revenue to well into the tens of thousands of diamonds.
These companies in order of earliest to latest IPO are:
- Monument Group
- Artificial Industries
- Moria Holdings
- Tusk Armory
- NordCo
- Lyrean Rail
- VEC Incorporated
Companies are required to go through an Initial Public Offering (IPO) to be listed on the Pavian Stock Exchange. In an IPO companies agree to regulations and standards that protect shareholders and the exchange from potential fraud or abuse of the system. These systems are called “Compliance” and ensure that when a potential buyer of a company sees shares of a company being sold on the exchange, they have some degree of certainty that the company will probably not be going anywhere. Some examples of standards enforced by the exchange are:
- Quarterly reporting that at a minimum includes revenue, expenses and net incomes
- Holding account diamond minimums that depend on dividend amounts and total share counts
- Submission to audits at reasonable suspicion
- Reasonable amount of commercial activity for the company being done on Monument Bank systems
These systems are enforced by the Pavia and backed by the full faith and credit of the Pavian Government & Monument Group. Additionally public reporting on a company’s compliance is done monthly in the Pavia Discord. Shares in these companies get their value in many of the same ways real life companies get their value. The exception to this being shares don’t equal ownership, as companies can elect to have voting shares or non-voting shares. Instead, companies get their value through things like the growth of a company as prospective buyers will pay more for shares of companies doing well in hopes of higher buybacks or dividends. Speaking of dividends, (Basically interest payments for owning shares) they also provide significant value to a company and are a major metric to share value due to it being a secure wealth store that gives you returns purely for holding the shares. Some companies also offer special deals/voting power for holding shares adding additional value. A less talked about benefit to shares is the fact they cannot be raided like diamonds could. All these conditions create share value, and lead to the 1,000,000+ diamond valuation that the current market boasts.
A company might want to IPO because they are planning on expanding and want to generate a large influx of cash to do this as IPOs can generate tens of thousands of diamonds for a company. As a company can issue shares as-needed it opens vastly more means of raising money to pay for things to hopefully generate even more revenue. Another reason for a company to possibly go public is employee ownership; companies may want to have a way to effectively reward employees for their hard work and continued hard work through the issuance of shares to employees. These shares can effectively be used as a tool to pay employees wages. The last reason a company may IPO is purely for the roleplay, it is an involved process and can continue to be an involved way to make running a company more fun through involvement of the shareholders and ideas from said shareholders who have vested interest in a company’s success.
For any further questions or inquiries about the stock exchange and/or how to get your company listed, contact Gamertime on discord.
The first image (and cover image) is a wide overview of Pavia City, taken by Urzork; the second image is a long view down Pavia’s Main Street, taken by specificlanguage.
Gamer_Time69 is the Pavian Stock Exchange’s Compliance Officer & Investor Relations associate, but previously played in Bloom and Icenia on CivClassic.