Treet Battery Limited debuting on PSX tomorrow

December 14, 2023 (MLN): Treet Battery Limited (TBL) is all set to be listed on the Pakistan Stock Exchange Limited (PSX) with effect from tomorrow i.e. Friday, December 15, 2023, at the opening price of Rs10 per share, the local bourse notified on Thursday.

TBL is being listed on the Exchange under the de-merger / bifurcation of Battery Division of First Treet Manufacturing Modaraba (FTMM), a listed Modaraba through Scheme of Arrangement (Scheme) sanctioned by the Lahore High Court vide Order dated January 10, 2023.

As per the swap ratio disclosed in the Scheme, the certificate holders of FTMM have been allotted 0.9984 shares of TBL against 1 certificate of FTMM.

The scrip shall be settled on a T+2 basis and the first settlement date will be Tuesday, December 19, 2023.

Meanwhile, the market lot of the company will be 500 shares of Rs.10/- each.

The shares of the company have already been declared as 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 "TBL" to the company as their Company Code / Security Symbol.

TBL will be quoted in the "Automobile Parts & Accessories" Sector in the daily quotation of the exchange.

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