SECP bars Foreign Investors to acquire more than 10% stake in Share Capital Exchange

SECP today approved amendments in Stock Exchange (Corporatization, Demutualization and Integration) Regulations, 2012.

Securities and Exchange Commission Pakistan (SECP) under the powers conferred to it has approved of changes in the Stock Exchange (Corporatization, Demutualization and Integration) Act, 2012.

SECP under the new amendments has directed the Exchange to change the Clause (i) shall be replaced with the following clause.

Henceforward, “foreign persons, other than foreign anchor investor, shall not collectively, whether directly or indirectly, acquire or hold more than 10% of the total issues share capital of the Exchange”. Provided that Commission may choose to decide if it deems it fit for interest capital markets increase the limit of shareholding for foreign persons, other than “foreign anchor investor to twenty percent of the total share capital of the Exchange.”