Following is the text of press release issued by
The apex regulator of capital market of
This message was relayed when a very high level delegation of the
These meetings are being considered very crucial as SECP is mulling over to give directive under Section 12 of the Act for the divestment of shares, as the date of 2nd anniversary of demutualization of LSE is approaching on
During the meeting with the Demutualization Committee, Dr.
The Financial Advisor of the Exchange also presented its progress report of outreach efforts and briefed about the initial communication with the potential
The Commission assured that all the proposals will be considered for implementation in the forthcoming Coordination Committee meeting of three Exchanges and SECP. The Commission while appreciating the endeavors of the Demutualization Committee assured to provide full regulatory support to LSE in order to achieve this important milestone of national interest.
The Commission was confident that after acquisition of shares by the foreign
It may be mentioned that the move towards corporatization and demutualization of LSE started two years ago after promulgation of the Demutualization Act and is considered as the beginning of new era for capital markets in
The Act allows sale of up to 40% shares of LSE to the strategic international investor(s) such as global stock exchanges, central depository, clearing company and/or financial institutions, 20% offer of shares to the general public through IPO for the purpose of listing at the Stock Exchanges besides retention of 40% shares by the initial shareholders who were the members of the Exchange.
Demutualization of LSE will lead to improve governance structure, transparency, assist in attracting international strategic partners and good quality issuers. During the meeting of the regulators with the Board of Directors of LSE on the same day, the implementation of the Plan for Segregation of Commercial and Regulatory Functions of LSE after demutualization was reviewed by the Commission.
The Commissioner (SM) applauded the achievements of LSE in providing Investor education to the general public and in promoting Investor Relations in listed companies. The Demutualization Committee and the Board of Directors of LSE also thanked the Chairman and the Commissioner (SM) for their continued support in demutualization process.
For more information, contact:
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
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