In view of the decision taken in the meeting of representatives of the three stock exchanges with SECP on Thursday, 21 more scrips have been added in the list of 50 CFS-eligible securities, which had been mentioned in a letter issued on November 1 and now total 71 scrips have been approved as CFS-eligible securities.
The securities will be available for CFS financing from November 6, 2006.
-- Arif Habib Securities (AHSL)
-- Indus Motors (INDU)
-- ICI Pakistan (ICI)
-- Pakistan Refinery (PRL)
-- Cherat Cement (CHCC)
-- Packages (PKGS)
-- Pak Suzuki Motors (PSMC)
-- Allied Bank Limited (ABL)
-- First National Equity (FNEL)
-- Pak Elektron (PAEL)
-- Bank Al Habib (BAHL)
-- Millat Tractor Limited (MTL)
-- Pakistan Cables (PCAL)
-- EFU General Insurance (EFUG)
-- Karachi Electric Supply Corporation (KESC)
-- BOC Pakistan (BOC)
-- Thall Industries (THALL)
-- Security Papers (SEPL)
-- Attock Petroleum (APL)
-- Attock Cement (ACPL) and
-- Ferozsons (FEROZ).
Earlier, in a notification sent to the Karachi Stock Exchange on November 1, 2006 the SECP had announced names of 50 securities eligible for CFS (continuous funding system).
-- National Bank of Pakistan (NBP)
-- MCB Bank (MCB)
-- Pakistan Petroleum (PPL)
-- Pakistan Oilfields (POL)
-- Oil and Gas Development Company (OGDCL)
-- D G Khan Cement (DGKC)
-- Pakistan State Oil (PSO)
-- Bank of Punjab (BoP)
-- Lucky Cement (LUCK)
-- Pakistan Telecommunication Company (PTC)
-- Engro Chemical (Pak) Limited (Engro)
-- Pakistan Industrial Credit and Investment Company (Picic)
-- Nishat Mills Limited (NML)
-- Adamjee Insurance (AICL)
-- Bank Alfalah (BAFL)
-- Askari Commercial Bank (ACBL)
-- Fauji Fertiliser Company Limited (FFCL)
-- Fauji Fertiliser Bin Qasim (FFBL)
-- Faysal Bank (FABL)
-- Kot Addu Power Company (Kapco)
-- Fauji Cement Company (FCCL)
-- Callmate Telips (CTTL)
-- Maple Leaf Cement (MLCF)
-- Sui Northern Gas (SNGP)
-- Hub Power Company (HUBC)
-- Attock Refinery (ATRL)
-- Sui Southern Gas Company (SSGC)
-- PICIC Commercial Bank (PICB)
-- Bosicor Pak Ltd (BOSI)
-- Telecard (TELE)
-- Nushat Chunian (NCL)
-- Azgard Nine (ANL)
-- Dewan Salman Fibre Ltd (SSFL)
-- Pakistan Cement Ltd (PCCL)
-- JOV and Co (JOVC)
-- Dewan Cement Ltd (DCL)
-- TRG Pakistan (TRG)
-- Pakistan PTA (PPTA)
-- WorldCall Telecom (WTL)
-- Soneri Bank (SNBL)
-- Kohat Cement (KOHC)
-- Prime Commercial Bank (PRCBL)
-- Siddiqsons Tin Plate (STPL)
-- Pioneer Cement (PIOC)
-- Saudi Pak Commercial Bank (SPCB)
-- PIAC (PIAA)
-- Dewan Farooque Motors (SFML)
-- Jahangir Siddiqui Investment Bank (JSIB)
-- NetSol Technologies (NETSOL) and
-- Chenab Limited (CHBL).
The CFS-eligible securities were selected on the basis of revised criteria and based on working/calculation provided by Karachi Stock Exchange (KSE).
The SECP said that the approval had been given on the basis of the revised criteria which included companies that have average daily Impact Cost of less than one percent, based on previous three months daily impact cost and on an order size of Rs 500,000; companies should have traded on more than 90 percent of the trading days during last three months; companies with free float of more than 20 percent of issued capital or 45 million free float shares; companies having turnover of more than nine million shares during last three months and mutual funds are not eligible for CFS funding.
The eligibility criteria have been revised, keeping in view the volatility and turnover of securities and, accordingly, the said scrips have been selected as these fall within the set parameters.