Issue of Rated, Listed and Secured TFCs: LSE approves application for listing, quotation

Lahore Stock Exchange (LSE) has approved the application for formal listing and quotation of 2nd Issue of Rated, Listed and Secured Term Finance Certificates (TFCs) of Rs 2,754.8 million inclusive of green shoe option of Rs 754.8 million of Engro Corporation Limited on completion of formalities required under the Listing Regulations of the Exchange.
The Exchange Chief Executive Officer and Managing Director Aftab Ahmed Chaudhry expressed hope that the trend of listings of TFCs will continue during the remaining year as well and that the coming year will see a lot more flourishing debt market and listings at the Exchange.
The trading in the TFCs of the Company will start on this Exchange from November 04 (tomorrow), 2011. All transactions taking place in respect of the above TFCs shall be settled on T+1 settlement basis from the above date. TFCs 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 assigned Security Symbol as "ENGROTFC2".
The Transfer Agent of the Company is Central Depository Company of Pakistan Ltd JS Global Capital Ltd has been appointed as a Market Maker and will perform the role of Market Maker. This is a 2nd TFCs Issue of Engro Corporation Ltd and First TFCs Issue of Engro Corporation Ltd (Engro Rupiya Certificate-1st Issue) of total issue size of Rs 4,000/- million is listed only at Karachi Stock Exchange.
Engro, a Pakistan based organisation, takes pride in its affiliation with the homeland always working innovatively towards the development of the country through new business ventures. The idea is to help stabilise the economy of the country and make recognition for Pakistan across the globe. Engro Corporation Ltd came into being on January 01, 2010 when Engro Chemical Pakistan Ltd converted into a holding Company and it demerged and transferred its fertiliser business creating a separate entity, Engro Fertiliser Ltd.
The purpose behind the inception of Engro Corp was to ensure better management of the various businesses that are part of Engro's investments. Currently Engro Corporation's portfolio consists of seven businesses, which include chemical fertilisers, PVC resin, a bulk liquid, chemical terminal, industrial automation, foods, power generation and commodity trade.