DOCSLIB.ORG

Listing on Pakistan Stock Exchange Small and Medium Enterprises Board

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Listing on Pakistan Stock Exchange Small and Medium Enterprises Board Listing on Pakistan Stock Exchange Small and Medium Enterprises Board Dream Big and Make it Happen! Contents of the Presentation: Section 1: Introduction Section 2: PSX Listing Requirements Section 3: SME Board Listing Requirements Section 4: Post Listing Section 5 :Listing Fee Section 6: Benefits And Relaxations Section 7: SME Listing Procedure Section 8: De-Listing Section 9: FAQs 2 Section 1 Introduction 3 Importance of SMEs to the Pakistani economy There are SMEs have the potential to Approximately 3 SME output drive / stimulate growth Million SMEs in contributes 40% provided they are given an Pakistan to the annual enabling platform to flourish. GDP SME Output contributes 25% to the total exports. SMEs employ 80% of the non-agricultural labor force 4 Economic Survey of Pakistan 2017 Section 2 PSX Listing Requirements 5 What is the Eligibility Criteria? Main Board SME Board • Minimum post issue • Minimum post issue paid up capital of paid up capital of Rs.25 Rs.200 million million 6 Section 3 SME Board Listing Requirements 7 What are the SME Board Requirements? PSX SME Board - a platform for SMEs to raise capital to fund growth QIBs: and expansion At least 20% of post Financial Institutions; issue paid up capital Insurance Companies; Mutual/Pension Funds to be offered ONLY to QIBs and HNWIs HNWIs: through private Investor bidding at least Rs.1 Million placement. Minimum five initial subscribers SME: A public company having Minimum Bid size of each initial a post issue Paid Up Capital subscriber: PKR 1 Million PKR 25 -200 Million 8 What are the mandatory requirements? Financial Operational SME Website Statements Requirements • Must prepare periodic • Must contain basic • Must be in business for at Financial statements business information least three years • Must audit statements by • Must contain Information • Must be profitable for at QCR rated chartered Memorandum least two preceding years accountants • Must post annual, half-year before getting listed • Must publish on the quarterly accounts website 9 What is the Listing Requirement? • IM shall be circulated to QIBs and HNWIs. Information • IM shall be placed on the website of the SME, the Exchange and the Advisor/Consultant to the Issue. Memorandum • Minimum information / disclosures required in the IM: Schedule-I of Chapter 5A of PSX Rule Book. • SME required to disclose and disseminate Price Sensitive Information. • CEO of the SME responsible for regulatory compliance: Must submit Compliance compliance report at the end of each half year. • If SME violates any provision of SME Regulations, Exchange may take (Post Listing) any disciplinary action such as: Imposing a fine, Placing SME in the Defaulters’ Segment, Suspend trading, etc. Section 4 Post Listing 11 What happens Post Listing? Trading shall take place through KATS. Sponsor Shareholding Lock-in 100% (Entire) holding blocked for 1 year. In the secondary market, the 25% holding blocked for 3 years. minimum order size for trading shall be PKR 100,000. SME to maintain a minimum free Clearing, settlement and risk float of 20% of post issue paid up management through NCCPL. capital. 12 Section 5 Listing Fee 13 What is the Listing Fees? • 0.05% of Post Paid Up Capital Initial Listing Fees • Capped at PKR 50,000 • PKR 20,000 on Paid Up Capital up-to PKR 50 Million Annual Listing Fees • PKR 30,000 on Paid Up Capital between PKR 50-100 Million • PKR 40,000 on Paid Up Capital exceeding PKR 100 Million 14 Section 6 Benefits And Relaxations 15 Why should you list on PSX? . Growth and expansion needs Raise Long Term . Invest or carry out merger & acquisition plans . Invest in new projects Low-cost Capital . Enhance current capacity . Diversify business . Meets working capital requirements Publicly listed companies achieve a higher valuation than private enterprises since greater disclosures Higher Valuation and market pricing lead to a companies market capitalization/worth. Reduces long term liabilities by enabling: Balance Sheet • Payment of its long term loans Optimization • Reducing its dependence on debt Why should you list on PSX? • IPOs add a level of prestige to a Company Enhances Company’s Public • IPOs can be used as a branding and marketing Profile tool as they attract media interest, attention and scrutiny A listed company has to disclose and disseminate all material and price sensitive financial information Improved Relations with which adds to: Bankers and Suppliers • The business transparency • Improved relations with Bankers, lenders and clients Listing bridges any discord that may arise during a Business Continuity and transition from the first generation to the next, by Succession Planning introducing • Corporate Governance Structures • Succession Planning 17 Why should you list on PSX? Liquidity Listing brings in liquidity and ready marketability of the company’s securities. HR Capital Attract and retain the best talent for your company because of enhanced reputation. Feasible and Effective Public listing creates a market for the Company’s shares and sponsors can sell their shares in the Exit Strategy secondary market. 18 What are the extra benefits and relaxations for SME? • 20% on tax payable in the first tax year of listing Tax Benefits • 20% on tax payable in the subsequent tax year • 10% on tax payable in the following two tax years respectively SME need not comply with the • Provisions of Chapter 5, “Listing of Companies Relaxations and Securities Regulations” of PSX Rule Book. • Code of Corporate Governance 19 Section 7 SME Listing Procedure 20 Procedure to get your company listed on the Exchange? • Your company chooses a consultant, who does the initial due diligence in regards to Appoints Advisor and Consultant financials, corporate structuring, legal and regulatory requirements etc., and formulates your company’s business plan moving forward. • The business case is evaluated by the consultant using different methodologies and its Business Plan evaluation demand is gauged for the “Final Offer Structure” to get maximum value for the shares to be offered. • After the terms of underwriting have been finalized. bankers to the issue and share registrar are appointed. Finalization of Underwritings • The Central Depository Company (CDC) checks for eligibility and induction into their virtual share depository system. • Finalize pre-IPO investors with the help of your consultant • Submit requisite regulatory documents for PSX and SECP and obtain the necessary Regulatory Filings approvals. • Conduct road-shows, investor presentations and other marketing and sales events to create Marketing awareness about the upcoming IPO. Subscriptions and Balloting • Share registrar and balloter collect subscription results form all bankers to the issue. Post IPO Clearance • The bank will transfer the money from the subscriber to the issuers. • PSX allocates dates for trading of shares on the Exchange and trading begins. 21 Section 8 De-Listing 22 What will be your Exit Strategy? Voluntary De-listing Involuntary De-listing Migration to Main Board Your company can be removed from When paid up capital exceeds PKR You can delist your company through the listed companies list due to 200 Million And SME has been buy-back of shares by the sponsors violation of PSX’s Listing of listed on the SME Board for at least at a price approved by the Exchange Companies & Securities Regulations Three years 23 Contact Information Raeda Latif General Manager - Marketing and Business Development Email: [email protected] Telephone: +92-2135274580 Ext: 4580 Help Desk (92-21) 111-011-122 Karachi Office Ext: 4580, 4582 Lahore Office Ext: 4653 Haris Saeed Islamabad Office Ext: 4666 Business Development Manager Email: [email protected] Web: psx.com.pk Telephone: +92-2135274574 Ext: 4582 Email: [email protected] Mariam Mehtab Marketing and Business Executive Email: [email protected] Telephone: +92-2135274572 Ext: 4572 24 Contact Information Serving Investors & Industry Stock Exchange Building, Stock Exchange Road, Karachi-74000, Pakistan. Tel: (+92)111-001-122, Website: www.psx.com.pk.
Load more

Recommended publications
  • SECRETARIAT Pakistan Stock Brokers Association PRESS
    PRESS RELEASE July 15, 2021 “FILING OF CONSTITUTIONAL PETITION IN THE HIGH COURT OF SINDH BY THE PAKISTAN STOCK BROKERS ASSOCIATION AGAINST FUTURES ELIGIBILITY CRITERIA NOTIFIED BY THE PAKISTAN STOCK EXCHANGE” (Thursday, July 15, 2021, Karachi): Pakistan Stock Brokers Association (PSBA) filed a Constitutional Petition (CP) in the High Court of Sindh against the Futures Eligibility Criteria, for Selection of Securities Eligible for Trading in Deliverable Futures Contract (DFC) and Cash Settled Futures Contract (CSF) Market, as notified by the Pakistan Stock Exchange (PSX), with prior approval of the Securities and Exchange Commission of Pakistan (SECP). The first hearing of the said CP was held today at the Sindh High Court. The Honorable Court has very kindly granted interim order to make the concerned notice inoperative to the extent that it discriminates against entities which have obtained stay order from the Court. Among other grounds, it was pleaded before the Honorable Court that the Respondents have acted in violation of the Constitution of the Islamic Republic of Pakistan, 1973, as they have no right to restrict any specific securities eligible for trading in the deliverable futures contract and cash settled futures contract markets, under the guise that such entities have invoked their constitutional right of protection by assailing any illegal action in a court of law. The PSBA will remain dedicated to the betterment of the economy, promotion of the stock brokerage industry, and protection of the rights of its members. ----------------------------------------------------------xxxxxxxxxxxx---------------------------------------------------------- SECRETARIAT Pakistan Stock Brokers Association .
    [Show full text]
  • PAKISTAN STOCK EXCHANGE LIMITED List of Office(S)/Branch Office(S)
    PAKISTAN STOCK EXCHANGE LIMITED List of Office(s)/Branch office(s) TREC # Name of TRE Corporate Office/ Address Manager Certificate Holder Branch Office 001 Altaf Adam Securities (Private) Limited Corporate Office Suit No. 803, 8th Floor, Altaf Adam Stock Exchange Building, Stock Exchange Road OA- 001 Karachi 021-32440242, 32440243 021-32427768 003 Muhammad Hussain Ismail Securities (Private) Limited Corporate Office Room No. 113, 3rd Floor Ashraf Muhammad Stock Exchange Building, Stock Exchange Road, Hussain OA- 003 Karachi. 021-32417326, 32421005 006 Sherman Securities (Pvt.) Ltd. Corporate Office 501-502, 5th Floor, Muhammed Samin Continental Trade Centre, Block-VIII, Clifton OA- 006 Karachi 021-35302914, 35302936 021-5363554 Branch Office Room No.124, 3rd Floor, Muhammad Arsalan Stock Exchange Building, Stock Exchange Road BOA- 006/01 Karachi 021-2426002 021-2417472 007 Amanah Investments Limited Corporate Office Room No. 123, 3rd Floor, Abdul Wahab Omar Stock Exchange Building, Stock Exchange Road, OA- 007 Karachi 021-3246876, 32468767-8 021-32468769 Branch Office AH House 196-A, Block-2 Muhammad Irfan PECHS, Shah Abdul Latif Road, BOA- 007/01 Karachi 021-32468768-69 008 Optimus Capital Management (Pvt.) Ltd. Corporate Office Plot No. 13-C, Stadium Lane-2, DHA, Phase-V, Muhammad Ovais Stadium, Commercial Area-5, Khadda Market Ahsan OA- 008 Karachi 021-35296888 021-35296957 Thursday, January 28, 2021 Page 1 of 53 TREC # Name of TRE Corporate Office/ Address Manager Certificate Holder Branch Office 010 Sakarwala Capital Securities (Pvt.) Ltd. Corporate Office Room No. 114, 3rd Floor, Ghulam Mujtaba Stock Exchange Building, Stock Exchange Road, Sakarwala OA- 010 Karachi 021-32411998, 32419732, 32428302 021-32428303 Branch Office Room No.
    [Show full text]
  • Distribution, Power and Networks in Financial Markets of Pakistan
    SMALL CLUB A Small Club: Distribution, Power and Networks in Financial Markets of Pakistan No. 2021:3 PIDE Working Papers Nadeem Ul Haque Amin Hussain PIDE Working Papers No. 2021:3 A Small Club: Distribution, Power and Networks in Financial Markets of Pakistan Nadeem Ul Haque Vice-Chancellor, Pakistan Institute of Development Economics, Islamabad. and Amin Husain Doktorand, Uppsala University. PAKISTAN INSTITUTE OF DEVELOPMENT ECONOMICS ISLAMABAD 2021 Editorial Committee Idrees Khawaja Saman Nazir Shahid Mehmood Disclaimer: Copyrights to this PIDE Working Paper remain with the author(s). The author(s) may publish the paper, in part or whole, in any journal of their choice. Pakistan Institute of Development Economics Islamabad, Pakistan E-mail: [email protected] Website: http://www.pide.org.pk Fax: +92-51-9248065 Designed, composed, and finished at the Publications Division, PIDE. CONTENTS Page Abstract v 1. The Stock Market That Does Not Grow! 1 2. Corporate Governance Matters 2 3. Networks and Subnetworks 6 3.1. Shareholders Networks 6 3.2. Network of Families: Mahbubul Haq Redux 7 4. Corporate Governance: What Board Memberships Tell Us! 8 4.1. Independent Directors 10 4.2. The Opportunity to be a Director: A Small Club 11 5. Network Analysis of Board Members 12 5.1. A Small Club 12 6. Who Matters in Pakistani Corporations? 13 7. Conclusion 16 References 17 List of Tables Table 1. Shareholding Proportions in KSE 100 (Market Cap) 5 Table 2. Professional Experience of Directors 11 Table 3. Number of Directors in Each Category 11 Table 4. Characteristics of 20 Directors with Highest Betweenness Centrality 15 List of Figures Figure 1.
    [Show full text]
  • The Effect of Uncertainty on Stock Returns and Risk-Returns (Volatility) Relationship Across Military and Democratic Regimes in Pakistan
    Marketing and Branding Research 7(2020) 24-46 Marketing and Branding Research WWW.CIKD.CA The Effect of Uncertainty on Stock Returns and Risk-returns (Volatility) Relationship Across Military and Democratic Regimes in Pakistan Zareen Zafar1*, Danish Ahmed Siddiqui2 1, 2Karachi University Business School, University of Karachi, Pakistan ABSTRACT Keywords: This research includes empirical results in making a consistent understanding of investor Pakistan Stock Market, Stock sagacity, investment returns, and behavioral stock market performance in the behavioral Returns, Risk Returns, finance trend theoretical context. The data were collected using a long range of Returns data Military Regieme, Pakistan's stock market Since June 1994 to December 2018 on the two economic segments Democratic Regieme, known as the Military Period (1999-2008 and 2009-2018). Quantile Regression (QR) and Ordinary Least Square, Ordinary Least Square (OLS) carried out on future returns and risk-returns (volatility) where Quantile Regression, the independent variables Consumer Price Index (CPI), Gross Domestic Product (GDP), Uncertainty index Money Market Rate (MMR), Discount Rate (DR) and Pakistan's Uncertainty Index were taken at annual data base. The findings indicated that DR and past returns significantly impact future Received returns. Other factors such as GDP, inflations, MMR and conditions of instability, however, 14 October 2020 had no major impact on returns. With regard to the military process, all variables such as past Received in revised form returns, GDP, discount and cash market levels, as well as volatility, had a major return impact. 26 October 2020 Whereas in the process of democracy, no macroeconomic factor affected those returns. With regard to volatility, CPI appeared to be the only factor that positively impacted the volatility Accepted of share prices, as well as each of the two phases while all other factors had no significant 26 October 2020 effect overall.
    [Show full text]
  • Pakistan Stock Market Reaction to Covid-19
    PAKISTAN STOCK MARKET REACTION TO COVID-19 HAMID HUSSAIN1 The COVID-19 outbreak could go down as a significant illustration of an overlooked danger in history. Much of the concern of corporate decision-makers and policymakers has centered on mainstream market risk outlets and the urgent climate change problem. Major personal life disturbances are happening, for example curfew-like situations in Pakistan and in other countries. Besides the acute disasters of death and illness, there is pervasive apprehension (leading, for instance, to mass purchase of daily goods). The potential economic influence of COVID-19 remains somewhat unpredictable, as it is not clear regarding the propagation of the epidemic, its extent and mortality rate, the policy responses and human behavior. Economists anticipate the COVID-19 to reduce global economic development by about 0.15 percentage points in 2020, translated into about $135 billion in postponed or unproduced products and services. This year's effects would be guided by three things: first, how quickly the virus travels and how long it lasts; secondly, how much concern affects travel, consumer buying, production, and trade; and finally what steps policymakers take to avoid the spread of the virus and improve productivity. In this case, the equity market provides a beneficial opportunity to examine, which companies find creditors to be especially impacted by the direct and indirect consequences of the virus outbreak and which companies may not be impaired. In this way, the equity exchange offers a constantly monitored and welcomed overview of what the markets think may eventually be the economic effect of the epidemic.
    [Show full text]
  • Investment in Pakistan.Pdf
    KPMG Taseer Hadi & Co. Chartered Accountants Investment in Pakistan © 2020 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. © 2020 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved. Investment in Pakistan Foreword Investment in Pakistan is a publication prepared by KPMG Pakistan to provide information on a number of subjects relevant for investment planning or doing business in Pakistan. The guide includes an overview of the economy and a summary of performance of identified sectors which could be of interest for investors and provides a summary of the rules, regulations and tax laws applicable in Pakistan. Although covering many relevant areas, it should not be considered as exhaustive since it has not been designed to provide complex and detailed information required for decision- making in relation to investments. This publication incorporates the regulations effective as of 31 October 2019. For our latest publications please browse our web site; www.kpmg.com.pk © 2020 KPMG Taseer Hadi & Co., a Partnership firm registered in Pakistan and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”),
    [Show full text]
  • PAKISTAN STOCK EXCHANGE LIMITED List of Office(S)/Branch Office(S)
    PAKISTAN STOCK EXCHANGE LIMITED List of Office(s)/Branch office(s) TREC # Name of TRE Corporate Office/ Address Manager Certificate Holder Branch Office 001 Altaf Adam Securities (Private) Limited Corporate Office Suit No. 803, 8th Floor, Altaf Adam Stock Exchange Building, Stock Exchange Road OA- 001 Karachi 021-32440242, 32440243 021-32427768 003 Muhammad Hussain Ismail Securities (Private) Limited Corporate Office Room No. 113, 3rd Floor Ashraf Muhammad Stock Exchange Building, Stock Exchange Road, Hussain OA- 003 Karachi. 021-32417326, 32421005 006 Sherman Securities (Pvt.) Ltd. Corporate Office 501-502, 5th Floor, Muhammed Samin Continental Trade Centre, Block-VIII, Clifton OA- 006 Karachi 021-35302914, 35302936 021-5363554 Branch Office Room No.124, 3rd Floor, Muhammad Arsalan Stock Exchange Building, Stock Exchange Road BOA- 006/01 Karachi 021-2426002 021-2417472 007 Amanah Investments Limited Corporate Office Room No. 123, 3rd Floor, Abdul Wahab Omar Stock Exchange Building, Stock Exchange Road, OA- 007 Karachi 021-3246876, 32468767-8 021-32468769 Branch Office AH House 196-A, Block-2 Muhammad Irfan PECHS, Shah Abdul Latif Road, BOA- 007/01 Karachi 021-32468768-69 008 Optimus Capital Management (Pvt.) Ltd. Corporate Office Plot No. 13-C, Stadium Lane-2, DHA, Phase-V, Muhammad Ovais Ahsan Stadium, Commercial Area-5, Khadda Market OA- 008 Karachi 021-35296888 021-35296957 Thursday, April 1, 2021 Page 1 of 53 TREC # Name of TRE Corporate Office/ Address Manager Certificate Holder Branch Office 010 Sakarwala Capital Securities (Pvt.) Ltd. Corporate Office Room No. 114, 3rd Floor, Room No. 605-606, 6th Floor, Ghulam Mujtaba Stock Exchange Building, Stock Exchange Road, Sakarwala OA- 010 Karachi 021-32411998, 32419732, 32428302 021-32428303 Branch Office Room No.
    [Show full text]
  • Formerly: Karachi Stock Exchange Limited) Stock Exchange Building, Stock Exchange Road, Karachi-74000, Phones: 111-001-122
    PAKISTAN STOCK EXCHANGE LIMITED (Formerly: Karachi Stock Exchange Limited) Stock Exchange Building, Stock Exchange Road, Karachi-74000, Phones: 111-001-122 CRITERIA FOR SELECTION OF TOP 25 COMPANIES FOR THE YEAR 2016 1) Prerequisites for Selection of Top Companies: a) A minimum distribution of 30% (including at least 15% cash dividend) for the year; b) The Shares of the company are traded 50% of the total trading days during the year c) The company should not be in the Defaulters’ Segment of the Exchange or trading in its shares has not been suspended on account of violation of Listing of Companies & Securities Regulations of the Exchange during the year. 2) The Companies that Qualify above Prerequisites will be selected on the Basis of Highest Marks Obtained as per the following Criteria: a) Capital Efficiency: (i) Shareholders Return on Equity (on the basis of before tax profit) 15% (ii) Ratio of Capital Expenditure to Total Assets 3% (iii) Change in Market Value Added (MVA of a year in the difference 2.5% between Market Value minus Book Value for that year.) b) Dividend Distribution (including Bonus) (i) Total Distribution out of Current Year’s Profit only. (In case 10% dividend/bonus is paid out of prior year’s earnings/reserves, than the dividend/bonus shall be adjusted proportionately) (ii) Payout Ratio (DPS / EPS) 10% c) Growth in Operating Revenue 6% Change in EBITDA Margin (Operating margin) in absolute terms 6% d) Free-Float of Shares 10% Free-Float of shares as a percentage of total shares outstanding e) Turnover of Shares
    [Show full text]
  • A Case of Non-Financial Firms Listed at Pakistan Stock Exchange Textile Sector
    P a g e | i INTRODUCTION Iqra Journal of Business & Management is a peer reviewed journal initiated by the Business Administration Department, Iqra National University, Peshawar, Pakistan in year 2017. The aim of the journal is to publish latest research related to the field of management, business administration, marketing, finance, entrepreneurship and so on. The main contributors of the journal are academics, researchers, practitioners, consultants, and undergraduate and postgraduate students. The journal has a diverse advisory board consist of experts from developed countries as well as well-known universities at national level. The journal provides a platform for sharing diverse research work in the field and aims to reduce the gap between the industry and academia. The journal is abstracted and indexed in high ranking abstracting and indexing agencies. The journal does not charge any fee to authors and is freely available to the readers through its web site. AIMS AND SCOPE The Iqra Journal of Business & Management provides an excellent outlet for research and scholarship on management-related themes and topics. The journal contributions comes from all over the country as well as from abroad, and include empirical and methodological articles across the full range of business and management disciplines including; • General management • General administration • Accounting and finance • Human Resource Management • Marketing and supply chain management • Strategic Management • Operations Management • Entrepreneurship • Corporate Social Responsibility • Public Sector Management • Organizational Behavior • Business Ethics • Research methods Iqra Journal of Business & Management (IJBM) Volume2, Issue 1, 2018 P a g e | ii CHIEF EDITOR MESSAGE Pakistan is going through a transitional period having long lasting impact on its economy, politics, culture, and social structure of the society.
    [Show full text]
  • Stock Network Structures in the Pakistan Stock Exchange
    Stock Network Structures In The Pakistan Stock Exchange Nadir Khan *, Jameel Ahmed † and Saubia Ramzan ‡ Abstract This study adopts a new technique from the area of Network Theory to analyze and understand the relationships among the stocks of KSE 100 Index in the Pakistan Stock Exchange (PSX). The stock networks were developed using the stock returns and stock returns volatility and the dynamic threshold method was used to extract the important relationships in the networks.Supported by literature, the findings of this study show that as the threshold limit was increased the relationships among stocks started to disappear andit is concluded that volatility networks provide more useful information about the stock network structures as compared to the returns networks.The implications of the study are that the PSX is a scale-free network where the entire stock market is influenced by only a few strong stocks in the market. Keywords: Network Theory, Stock Network Structures, KSE 100 Index, Capital Markets, Pakistan Stock Exchange (PSX). Introduction Stock market is one of the most complex financial networks being studied in the theory of finance due to the large amount of availabledata. A financial network is agraph, where a graph is composed of a set of “nodes ” which are connected by links known as “edges.” A stock network structure is a graph, where nodes are stocks and edges are developed based on the correlations among the stocks (Soramaki & Cook, 2016). Research studies on the stock markets of United States of America, Brazil, India, China, Greece, Iran and South Korea that have applied the techniques of Network Theory conclude that the stock markets are scale-free networks, where a few stocks influence the entire stock market (Dimitrios & Vasileios, 2015; Namaki, Shirazi, Raei & Jafari, 2011; Tse, Liu & Lau, 2010; Huang, Zhuang & Yao, 2009; Tabak, Takami, Cajueiro & Petitinga, 2009).
    [Show full text]
  • PAKISTAN STOCK EXCHANGE LIMITED List of Office(S)/Branch Office(S)
    PAKISTAN STOCK EXCHANGE LIMITED List of Office(s)/Branch office(s) TREC # Name of TRE Certificate Holder Address Manager 001 Altaf Adam Securities (Private) Limited Corporate Office Suit No. 803, 8th Floor, Altaf Adam OA- 001 Stock Exchange Building, Stock Exchange Road Karachi 021-32440242, 32440243 021-32427768 003 Muhammad Hussain Ismail Securities (Private) Limited Corporate Office Room No. 113, 3rd Floor Ashraf Muhammad Hussain OA- 003 Stock Exchange Building, Stock Exchange Road, Karachi. 021-32417326, 32421005 006 Sherman Securities (Pvt.) Ltd. Corporate Office 501-502, 5th Floor, Muhammed Samin OA- 006 Continental Trade Centre, Block-VIII, Clifton Karachi 021-35302914, 35302936 021-5363554 Branch Office Room No.124, 3rd Floor, Muhammad Arsalan BOA- 006/01 Stock Exchange Building, Stock Exchange Road Karachi 021-2426002 021-2417472 007 Amanah Investments Limited Corporate Office Room No. 123, 3rd Floor, Abdul Wahab Omar OA- 007 Stock Exchange Building, Stock Exchange Road, Karachi 021-3246876, 32468767-8 021-32468769 Branch Office AH House 196-A, Block-2 Muhammad Irfan BOA- 007/01 PECHS, Shah Abdul Latif Road, Karachi 021-32468768-69 008 Optimus Capital Management (Pvt.) Ltd. Corporate Office Plot No. 13-C, Stadium Lane-2, DHA, Phase-V, Muhammad Ovais Ahsan OA- 008 Stadium, Commercial Area-5, Khadda Market Karachi 021-35296888 021-35296957 Friday, May 28, 2021 Page 1 of 51 TREC # Name of TRE Certificate Holder Address Manager 010 Sakarwala Capital Securities (Pvt.) Ltd. Corporate Office Room No. 114, 3rd Floor, Room No. 605-606, 6th Floor, Ghulam Mujtaba Sakarwala OA- 010 Stock Exchange Building, Stock Exchange Road, Karachi 021-32411998, 32419732, 32428302 021-32428303 Branch Office Room No.
    [Show full text]
  • \Nc*:* Coirpi@Tary
    @ Ideal Spinning Mills [td" Ideal Group The General ManaBer, ISMLIACTS/o186 Pakistan Stock Exchange Ltd., Dated: 02.10.2017 Stock Exchange Building, Stock Exchange Road, Karachi. Subject: FINANCIAL RESULTS FOR THE YEAR ENDED JUNE 30. 2017 Dear Sir, We are pleased to inform you that the Board of Directors of our Company in their meeting held today at 01:00 p.m at 1088-Jail Road, Faisalabad approved the audited annual financial statements of the Company for the year ended June 30, 2A17 and also recommended the following: 7. Cash Dividend NIL 2. Bonus Shares NIL 3. Right Shares NIL Financial results for the year ended June 30, 2017 are as follow: .tune 30, June 30, 2017 2015 Rupees Rupees Revenue 2,248,530 2,378,758 Cost of sales (2,157,1211 (2,372,767], Gross profit 91,409 65,991 Distribution cost (27,360) (2s,496) Administrative expenses (102,002) (93,393) Other expenses (s67) (2,3s5) Other income 3,554 7,476 Finance cost (7e,696) (s5,856) Loss before taxation (1L4,s62) (110,704) Taxation (2,776) 44,876 (5s,828) Loss after taxation __11y,338.l_ Loss per share-basic and diluted (Rupees) __111.831__ (5.64) The Annual General Meeting of the Company will be held at 11:45 a.m. on Monday October 30,2077 at Arts Council of Pakistan, M.R.Kayani Road, Karachi-74200. The share gansfer books of the Company will remain closed from October 20,2O\7 to October 31, 2017 (both days inclusive). We shall send you 200 copies of printed accounts for distribution amongst the members and record in due course of time.
    [Show full text]