Securities and Exchange Commission of Pakistan (SECP) Chairman Razi-ur-Rehman has said that the CFS Mk-II will be implemented at the Karachi Stock Exchange by the end of September.
Talking to media after a ceremony held by Pakistan Institute of Corporate Governance (PIGC) here on Thursday, the SECP Chairman said that all necessary work had been completed and its implementation at KSE would be done by the end of next month.
He said that the new categories schedule for continuous funding system (CFS) would be approved soon and one-month notices would be served after its approval.
Regarding dematualisation of KSE, he said that the work was in final phase and it was expected that the dematuliasation of KSE would be completed by October.
"The KSE members would own 40 percent share of the market, while the remaining 60 percent would be sold to strategic investors, financial institutions and general public", he said, and added that the voting power of stock members would reduced after its dematualisation as 40 percent directors would be taken from members side, while 60 percent directors would be nominated by the SECP.
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