Karachi August 1 2023: Pakistan Stock Exchange will not be proceeding to acquire CDC’s shares from IGI Investments (Private) Limited and Allied Bank Limited since the Securities and Exchange Commission of Pakistan (SECP or the Commission) has not acceded its approval to such investments.
The Commission’s approval was required as per the terms of the Central Depository (Licensing and Operations) Regulations, 2016 for PSX’s further equity investment in its associated company, Central Depository Company of Pakistan Limited (CDC).
Pakistan Stock Exchange intended to acquire 1,949,995 and 3,000,000 ordinary shares of PKR 10/sh each in Central Depository Company of Pakistan Limited (CDC), from IGI Investments Allied Bank Limited at a price of PKR 25/sh.
