Karachi November 23 2021: Secondary trading in equity securities of GEM companies shall be carried out on the existing interface of KATS, being quoted under Ready board with a denotation ‘GEM’ before the symbol. The trading in GEM securities shall be similar to the Main Board trading and shall be settled through National Clearing Settlement System (NCSS) on T+2 basis. The existing circuit breakers of +/- 7.5% shall be applicable on
GEM securities.
A L S O || R E A D
PSX shifted Imperial Limited from defaulter to normal counter
All TRE Certificate Holders are advised to refer Chapter 5A of PSX Rule Book regarding Regulations governing listing and trading of equity securities on GEM Board whereby TRE Certificate Holders are required to ensure that any investor trading in GEM securities shall be an ‘Accredited Investor’.
As per Chapter 5A of the PSX Rule Book, Accredited Investor includes:
- i. Institutional investors; and
- ii. Accredited individual investors registered with NCCPL having net assets of at least Rs. 5 million.
In this regard, Individual investors are required to self-declare themselves as being an Accredited Individual Investor, having net assets of at least Rs. 5 million or above.
A L S O || R E A D
NCCPL To Collect Capital Gain Tax Today For The Month Of September: PSX
Accordingly, the TRE Certificate Holder is required to place a check in the NCCPL System in accordance with NCCPL Regulations 2015.
In case a trade is placed for an investor not marked as Accredited, PSX will inform the relevant TRE Certificate Holder to mark the investor as Accredited in NCCPL System by obtaining self-declaration.
If the investor is non-accredited, the TRE Certificate Holder shall honor the transaction from its own account by rectifying the underlying trade as per current rectification mechanism or via the NDM mechanism.
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