The Karachi Stock Exchange (Guarantee) Limited’s notice for participation in open bidding process for purchase of KSE membership rights /seat
Karachi: It is hereby informed that The Karachi Stock Exchange (Guarantee) Limited (KSE) is holding an open Auction for Sale of one Membership of the Exchange, which is scheduled to be held on July 12, 2011, at 3:30 PM at KSE Auditorium.
All Corporate Bodies, Financial Institutions /Banks (Local and Foreign) including eligible high-net worth individuals are invited to participate in the open bidding process. All bidders of this auction must qualify the eligibility criteria for the Exchange membership, the information and details of this criteria is available on our corporate Website: www.kse.com.pk under the sub link of “Membership”.
The reference price to start the bidding has been fixed at Rs. 50 million and all interested parties in addition to meeting the eligibility criteria for membership, are required to submit pay order equivalent to 5% of the reference price as earnest money, which will be refunded in case the bid is unsuccessful. In case of successful bid, the balance payment will have to be submitted within 10 days from the date of bidding and failing which the “Earnest money” shall be forfeited.
A written request to participate in the auction along with documents confirming to eligibility criteria for KSE membership and earnest money by pay order in favor of Karachi stock Exchange (Guarantee) Limited. Must reach the office of the Managing Director latest by July 7, 2011.
The Exchange reserves the rights to accept or reject any or all Bids without assigning any reason.
For more information, contact:
General Manager Operations
Karachi Stock Exchange
Tel: +9221 111 001 122
Fax: +9221 3241 0825, +9221 3241 5136