The Securities and Exchange Commission of Pakistan (SECP) has ordered the temporary suspension of trading in the Habib Bank Limited's shares for Monday (August 6) on the provisionally listed counter of the exchange. The SECP took this decision in exercise of its powers under Section 9(7) of the Securities & Exchange Ordinance 1969.
In a letter, sent to Karachi Stock Exchange (KSE), it was said that the SECP had noticed that there were varied complaints in respect of announcement of the HBL financial results for the first half of 2007, made by the exchange on August 3 at around 3:45 p. m. The issue warranted an inquiry to safeguard the interest of the investors and to take an appropriate action, if required, based on the outcome of the inquiry.
As such, the SECP announced the suspension of trading in the security HBL on the provisionally listed counter of the exchange to protect the interest of the general public.
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