The limit has been raised from 10pc applicable at the current moment with shares held under the Stock Exchange (Corporatisation, Demutualisation
and Integration) Regulations 2012.
'PSX is a national institution; authorities want to spread its shareholding (by involving maximum number of investors) through limiting shareholding of foreign individual and institutional investors to a certain percentage,' said Shehzad Chamdia, who headed the work on corporatisation, demutualisation
and integration of stock exchanges in the past.
DSE has been trying to get a strategic partner in line with the Demutualisation
remained a key strategic focus in the year under review.
Under the Stock Exchange Corporatisation, Demutualisation
and Integration Act, 2012, the sale of a strategic stake to Chinese consortium was completed whereby 40 per cent of paid-up capital was transferred to the five-member consortium, which included three Chinese exchanges and two local financial institutions in 2016.
Despite the passage of two years, the Securities and Exchange Commission of Pakistan (SECP) has not been able to pursue the case of demutualisation
of stock exchanges.
It also maintained that its closed block dividend scale in eight out of the thirteen years since its demutualisation
and the cumulative adjustment over that period, is consistent with adjustments to other companies' closed block participating policies.
KARACHI -- The demutualisation
committee of the stock exchanges has asked the financial advisor (FA) to the `corporatisation, demutualisation
and integration` of the bourses The Deutsche Bank, to find the `strategic buyer` of 40 per cent shares in the demutualised stock exchanges by the end of September.
Karachi, July 2 -- THE process of law-drafting and approvals for the demutualisation
of stock exchanges that started in November 2002 finally reached its conclusion on Tuesday when parliament passed the Stock Exchanges (Corporatisation, Demutualisation
and Integration) Bill, 2009.
I was actually considered, in law, to be a "shareholder" with that then-mutual organisation where, from memory, I had about pounds 1,000 deposited so that, on demutualisation
, I acquired a standard package of 250 shares in the newly-formed limited company.
STANDARD Life were yesterday counting the cost of customers leaving after their demutualisation