Securities and Exchange Commission of Pakistan not following consistent policy as it keeps on changing Regulations frequently: Stockbrokers Association

Karachi, December 05, 2014 (PPI-OT): During the recent “Book Building Process” held for IPOs in a Number of Companies, Investors feel that the SECP is not following a consistent policy as it keeps on changing the Regulations frequently. This state of affairs undermines investors’ confidence and gives a poor impression of the book building mechanism.

A number of affected investors have approached the members of “KSE Stockbrokers Association” to bring to the notice of SECP that the most viable solution to resolve the contradictions is as follows: “There should be no upper cap on the price of the share.

The principle of strike price be adhered to and all applicants be allotted the shares on Pro-Rata Basis at that strike price. And as the object is not to make the rich richer, small investors be allowed to participate in the process, through a Combined Application.”

For more information, contact:
Ansar Mahmood
Office Secretary,
KSE Stockbrokers Association
Mezzanine Floor, Trading Hall,
Stock Exchange Building, Stock Exchange Road,
Off I.I. Chundrigarh Road, Karachi,
Pakistan.
Mobile: +92-333-3315123

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