Lahore, April 14, 2015 (PPI-OT): Lahore Stock Exchange Ltd. has approved the application for formal listing and quotation of shares of Mughal Iron and Steel Industries Ltd. 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 Wednesday, April 15, 2015 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 April 17, 2015. 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 Ltd. (CDC) and all the transactions shall be settled through the NCCPL, which has already assigned Company Code/Security Symbol as “MUGHAL”.
The opening price of shares of the Company will be Rs. 34/- 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 listing of this company at the Ready Board Quotation, the number of companies listed at LSE would reach to 434.
The Share Registrar of the Company is THK Associates (Pvt) Ltd., 2nd Floor, State life Building No, 3, Dr Ziauddin Ahmed Road Karachi-Ph: (021)-111 000 322, Fax: (021)-35655595 The Company will be quoted under “ENGINEERING” Sector of the Ready Board Quotation of the Exchange.
Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry congratulated the stakeholders and management of the new listed Company M/s. Mughal Iron and Steel Industries Ltd., and informed the investors that after the listing of this company at the Lahore Stock Exchange a new product in “ENGINEERING” 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)
Lahore Stock Exchange Building,
19, Khayaban-e-Aiwan-e-Iqbal, P. O. Box: 1315,
Lahore – 54000, Pakistan
Category: General Business News