SECP halts AGP IPO until further orders

By MG News | November 02, 2017 at 07:28 PM GMT+05:00

0:00

Securities and Exchange Comission (SECP) has advised OBS Pakistan and Muller & Phipps Ltd., not to proceed further for public offering of their shareholding in AGP Ltd. including registration of bidders, with immediate effect and till further notice.

The process has been halted on the grounds that the matter of repatriation of divestment proceeds of Rs. 6.501 billion to Pharmonte Limited by AGP Private Limited was taken up with the State Bank of Pakistan.

SBP has informed the SECP that it has subsequently taken up the matter of repatriation with Meezan Bank Ltd., (being the acquirer of operations of HSBC Bank Middle East Ltd. in Pakistan) and will inform the Exchange Commission after the response from Meezan Bank is received.

Until further notice, SECP has halted any process for Initial Public Offering of AGP Limited.

Related News

Name	Price/Vol	%Chg/NChg
KSE100	132,576.99 161.03M	-0.62% -826.20
ALLSHR	82,983.68 903.36M	-0.25% -204.38
KSE30	40,358.80 56.86M	-0.72% -292.66
KMI30	190,727.32 67.92M	-0.71% -1356.60
KMIALLSHR	55,698.48 457.08M	-0.27% -149.22
BKTi	36,242.06 11.15M	-0.50% -180.82
OGTi	28,323.42 10.71M	-0.40% -114.19

Symbol	Bid/Ask	High/Low

Name	Last	High/Low	Chg/%Chg
BITCOIN FUTURES	109,210.00	110,265.00 108,625.00	-5.00 -0.00%
BRENT CRUDE	70.35	70.71 69.61	0.20 0.29%
RICHARDS BAY COAL MONTHLY	97.50	0.00 0.00	1.45 1.51%
ROTTERDAM COAL MONTHLY	108.00	109.00 107.95	0.90 0.84%
USD RBD PALM OLEIN	998.50	998.50 998.50	0.00 0.00%
CRUDE OIL - WTI	68.57	68.94 67.70	0.24 0.35%
SUGAR #11 WORLD	16.57	16.61 16.08	0.44 2.73%