PSX proposes compliance standards for mergers

MG News | October 08, 2024 at 10:14 AM GMT+05:00

0:00

October 08, 2024 (MLN): The Pakistan Stock Exchange (PSX) is proposing to introduce specific compliance conditions for companies seeking to list following the approval of a Scheme of Arrangement for Merger, Amalgamation, Restructuring, or Reconstruction.

This is aimed at ensuring that these companies are treated on par with those applying for listing through an Initial Public Offering.

Besides the above, PSX is proposing to require that the opening price of the shares of the surviving entity on the first trading day should be publicly disseminated within five (05) working days from dissemination of certified true copy of the Order of the relevant competent authority sanctioning the Scheme but not later than the announcement of the final date of book closure by the listed company.

The opening price shall be duly certified by the auditor.

Moreover, PSX has invited all concerned to provide written comments on the proposed amendments in PSX Regulations in relation to this matter.

Notably, the comments can be submitted latest by October 15, 2024.

Copyright Mettis Link News

Related News

Name	Price/Vol	%Chg/NChg
KSE100	184,290.15 243.40M	-0.68% -1252.86
ALLSHR	110,300.03 619.43M	-0.53% -583.92
KSE30	56,570.58 92.70M	-0.75% -427.42
KMI30	259,087.14 144.87M	-0.91% -2385.04
KMIALLSHR	70,637.07 313.10M	-0.70% -501.22
BKTi	53,778.41 27.16M	-0.55% -295.74
OGTi	35,954.08 9.76M	-0.84% -305.30

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	90,295.00	91,855.00 89,825.00	-810.00 -0.89%
BRENT CRUDE	62.44	62.84 62.26	0.45 0.73%
RICHARDS BAY COAL MONTHLY	86.75	0.00 0.00	0.05 0.06%
ROTTERDAM COAL MONTHLY	97.90	0.00 0.00	-0.30 -0.31%
USD RBD PALM OLEIN	1,027.50	1,027.50 1,027.50	0.00 0.00%
CRUDE OIL - WTI	58.17	58.53 57.98	0.41 0.71%
SUGAR #11 WORLD	14.78	14.99 14.78	-0.19 -1.27%