The Karachi Stock Exchange (KSE) has approved the application for formal listing and quotation of certificates of the Pak Oman Advantage Fund (POAF) on completion of all formalities required under the Listing Regulations of the exchange.
The KSE notified that trading in the certificates of the fund will start on the exchange from June 12 and all transactions taking place in respect of the above fund shall be settled on T+3 settlement basis from the above date. The first settlement date will be June 15.
All outstanding transactions up to May 18, 2007 carried out under the regulations for futures trading in the provisionally listed companies shall be settled separately on Friday, June 15, 2007 through the Clearing House of the exchange. The market-lot of the fund will be 500 certificates of Rs 10 each.
The certificates of the fund have already been declared eligible security by the Central Depository Company of Pakistan (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan Limited (NCCPL), which has already assigned Fund Code/Security Symbol as "POAF."
The fund will be quoted under "Closed-End Mutual Fund" sector of the ready board quotations of the exchange. The share registrar of the company is THK Associates (Private) Limited, Karachi.