Lahore Stock Exchange decided to list Avanceon Limited on the ready board of the exchange - AsiaNet-Pakistan

Lahore Stock Exchange decided to list Avanceon Limited on the ready board of the exchange

February 10, 2014 | General Business News | Share:

Lahore, February 10, 2014 (PPI-OT): Lahore Stock Exchange Limited has approved the application for formal listing and quotation of shares of AVANCEON LIMITED on completion of all formalities required under the Listing Regulations of the Exchange.

It is therefore, notified that, Trading in the shares of the Company will start on the Ready Board of the Exchange from Tuesday, February 11, 2014 and all transactions taking place in respect of the above Company shall be settled on T+2 settlement basis from the above date. The first settlement date will be February 13, 2014. The Market lot of the Company will be 500 shares of Rs. 10/- each.

The shares of the Company have already been declared eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the NCCPL, which has already assigned Company Code/Security Symbol as “AVN”.

The opening price of shares of the Company will be Rs.14/- per share as determined through book building process. Normal circuit breakers will be applicable on the opening price of shares in the Ready Market.

After the listing of this company at LSE total number of listed companies will be 435. The Company will be quoted under “Information Technology and Telecommunication” Sector of the Ready Board Quotation of the Exchange. The Share Registrar of the Company is THK Associates (Pvt) Ltd., Ground Floor, State Life Building No. 3, Dr. Ziauddin Ahmed Road, Karachi-Ph: 021-111-000-322, Fax: 021 35655595.

Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry congratulated the stakeholders and management of the Company of the AVANCEON LIMITED, and informed the investors that after the listing of this company at the Lahore Stock Exchange a new product in “Information Technology and Telecommunication” sector will available for investment.

MD also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. Lahore Stock Exchange is a fully electronic and completely automated stock exchange of Pakistan that is the only domestic exchange to have more than one trading floors in the region.

For more information, contact:
Barkat Ali Anjum
Deputy Manager-Media and Public Relations Department
Lahore Stock Exchange (LSE)
Cell: +92 306 4506086
Tel: Direct +92 4236280792, +92 423636 8000 Ext. 5031-5032
Fax: +92 42 3636 8485 – 111 441441
Email: barkatali@lse.com.pk
Web: www.lse.com.pk

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Category: General Business News