The meeting of the Demutualization Committee was held in
The meeting was chaired by
It was attended by
As per the law governing demutualization, a maximum of 40% shares of KSE are to be sold to strategic investor whereas at least 20% of shares should be sold to the general public.
The remaining shares of the KSE will be sold to the local financial institutions. It was noted with satisfaction that the Demutualization Committee, with the assistance of consultant, has made significant progress and is expected to reach the stage of attracting bids from potential investors shortly.
The SECP appreciated the efforts of Demutualization Committee in this regard. It was agreed that the divestment process will be expedited and the SECP assured the Demutualization Committee of its continued support to achieve the divestment in a transparent and efficient manner.
The performance of recently launched
The broad measures for developing the GDS segment were identified, including the need for effective market making, efficient information sharing with SBP and improving the trading system and operational modalities.
It was noted that the SECP has already approved the required changes in the regulations to facilitate market making by the primary dealers and it was agreed that coordination will be made with SBP for ancillary support in this regard.
The SECP also announced that a forum comprising of veteran capital market participants and SECP officials will be formed to discuss and evaluate the proposals for market development. The need for reviving and developing the derivative products was also discussed and it was agreed to work jointly to remove any practical hurdles.
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