PSX to list Pak Agro Packaging on GEM board

MG News | November 24, 2021 at 04:54 PM GMT+05:00

0:00

November 24, 2021 (MLN): Pakistan Stock Exchange (PSX) has announced the listing of Pak Agro Packaging Limited (GEMPAPL) on its Growth Enterprise Market (GEM) board from Friday, November 26, 2021.

As per the details, trading in the shares of the company will commence on the GEM Board from Friday, November 26, 2021, and shall be settled on a T+2 basis. The first settlement date will be Tuesday, November 30, 2021.

The market lot of the company will be 500 shares of Rs10 each. The shares of the company have already been declared 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 “GEMPAPL” to the company as their company code/security symbol, the notification added.

The opening price of the shares of the company will be Rs24.75 per share, as determined through the book-building process.

In addition, the company will be quoted in the “Paper & Board” sector in the daily quotation of the exchange.

To note, this is the first company that is going to be listed on the GEM board.

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