May 30, 2024 (MLN): Pakistan Stock Exchange Limited (PSX) has announced the listing of LSE Financial Services Limited (LSEFSL) with effect from tomorrow i.e. Friday, May 31, 2024, on the Exchange.
The listing follows the Scheme of Arrangement for transferring the listing status of Modaraba Al-Mali (MODAM) to LSE Financial Services Limited, sanctioned by the Lahore High Court vide its order dated April 03, 2024.
As per the swap ratio disclosed in the Scheme, the certificate holders of MODAM have been issued 65.03 shares of LSEFSL against 1,000 certificates of MODAM.
Trading in the company's shares will commence on the PSX Main Board and be settled on a T+2 basis, with the first settlement date being Tuesday, June 04, 2024.
The opening Price of the company's shares will be Rs10 per share, as contained in the Scheme and determined by the Company, already disseminated through PUCARS on April 09, 2024.
Moreover, the company will be quoted in the "Investment Banks / Investment Companies / Securities Companies" Sector in the Daily Quotation of the Exchange.
It is crucial to note that the shares of the company have already been declared as an eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan Limited (NCCPL).
NCCPL has assigned "LSEFSL" to the company as their company code/security symbol.
