The majority of 24 companies delisted by the Karachi Stock Exchange (KSE) during the past couple of years, did not comply with or meet the requirements and regulations of the KSE. This was stated by the Managing Director of KSE, Moin Fudda, while talking to APP. "Hence these companies were de-listed on voluntary basis and we negotiated a good price for the minority share holders", he added.
The four companies which were de-listed were big multi-nationals and the majority of shares of these were with them and less than 10 percent of these shares were with the public and they wanted to be de-listed, the KSE Managing Director further pointed out.
"There was no way that one could force them to be on the KSE. So we again negotiated a good price", he added.
About the recent upward trend at the KSE, Moin Fudda remarked that there is a definite interest by the investors mainly in oil, gas and telecom sector.
"My advice to the people is to see all the facts and figures and then invest because obviously the index has risen from 5,000 level recently now to close to around 7,000", Moin Fudda said.