UDL International set for debut on PSX on July 10

July 09, 2024 (MLN): Pakistan Stock Exchange Limited (PSX) has announced the listing of UDL International Limited (UDLI) with effect from Wednesday, July 10, 2024, on the Exchange.

UDLI is being listed on the Exchange pursuant to the Scheme of Arrangement for merger/amalgamation of First UDL Modaraba (FUDLM) with and into UDL International Limited sanctioned by the Sindh High Court vide Order dated November 02, 2023.

As per the swap ratio disclosed in the Scheme, the certificate holders of FUDLM have been allotted 1 share of UDLI against 1 certificate of FUDLM.

Trading in the company's shares will commence on the PSX Main Board and be settled on a T+2 basis, with the first settlement date being Friday, July 12, 2024.

The opening Price of the company's shares will be Rs8 per share.

Moreover, the company will be quoted in the "Miscellaneous" sector in the Daily Quotation of the Exchange.

It is crucial to note that the shares of the company have already been declared as an 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 "UDLI" to the company as their company code/security symbol.

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