The Karachi Stock Exchange (KSE) has approved the provisional listing and quotation of shares of Dost Steels Limited (DSL) consequent upon the approval of the prospectus and completion of relevant requirements under the listing regulations of the exchange.
The provisional listing shall take place with effect from Friday in accordance with the Regulation for Futures Trading in the Provisionally Listed Companies (FTPLC) 2002.
The trading in the shares of the company will commence on the exchange from Friday. The closing date of contract is November 23 while the settlement date is November 28. The market-lot for trading would be 500 shares of Rs 10 each. The date of removal of the company from the futures contract is November 26.
The company is to be formally listed with effect from November 26 and accordingly the trading in the shares of the company will be shifted to ready counter under T2 settlement system.
The first settlement date would be November 28. Notice of formal listing containing the relevant details will be issued separately.
All outstanding contracts carried out under these regulations shall be settled on the settlement date and members shall not be allowed to transfer their positions to the ready clearing board or any other board.
The exchange may extend the date of settlement if the company fails to deliver the shares as per agreed time schedule.
A member of the exchange, entering future trading in the company, shall have to comply with all the provisions contained in FTPLC (as already notified and circulated amongst the members). Including those relating to trading, deposits, margins, clearing settlement and the trading in the shares of the company will be governed by the said regulations. The National Clearing Company of Pakistan Limited has assigned 'DSL' as the company code/security symbol.