Karachi July 3 2023: Pakistan Stock Exchange informed to all concerned that First Capital Securities Corporation Limited (FCSC) has time up to July 05, 2023 to rectify the non-compliance for being in Defaulter Segment.
Despite being on verge of default, FCSC gains 11 paisa or 9.24 percent at Pakistan Stock Exchange as market rallies on IMF deal of USD 3 billion that avert default.
M/s. First Capital Securities Corporation Limited (FCSC) was placed in the Defaulters’ Segment due to non-compliance of PSX Regulation regarding failure to pay the penalty imposed by the Exchange within the specified time.
In case, FCSC fails to pay the penalty within the stipulated time, further action(s) including suspension of trading in the shares of FCSC will be taken under subsequent provisions of the PSX Regulations.
However, It may also be noted that in case FCSC rectifies the non-compliance of PSX Regulation within the stipulated time; FCSC may be shifted to the Normal Counter of the Exchange.
First Capital Securities Corporation Limited was incorporated in Pakistan on April 11, 1994 as a public limited company under the repealed Companies Ordinance, 1984 (Now Companies Act 2017) and is listed on the Pakistan Stock Exchange. The Company is involved in making long and short term investments, money market operations and financial consultancy services.
