The Karachi Stock Exchange (KSE) has approved the provisional listing and quotation of shares of Arif Habib Bank Limited (AHBL) consequent upon the approval of the Offer of Sale and completion of relevant requirements under the listing regulations of the exchange.
The provisional listing shall take place with effect from December 24, 2007 in accordance with the regulation for Future Trading in the Provisionally Listed Companies (FTPLC) 2002, the KSE, in its notice issued here on Monday said.
IN ACCORDANCE WITH CLAUSES 5 AND 10 OF FTPLC, THE FOLLOWING INFORMATION ARE PROVIDED AS PER THE TIME SCHEDULE SUBMITTED BY THE BANK:
1. Name of the Bank : Arif Habib Bank Limited
2. Opening date of contract: December 24 2007
3. Closing date of contract: February 08, 2008
4. Settlement date: February 13, 2008
5. Market lot for trading: 500 shares of Rs 10 each
6. Maximum number of shares that can remain outstanding at the close of any business day in any member's account: 1,702,500 shares
7. Date of removal of the bank from the futures contract: February 11, 2008.
8. The bank is proposed to be formally listed with effect from February 11, 2008 and accordingly the trading in the shares of the bank will be shifted to Ready Counter under T+2 Settlement System from the said date. The first settlement date would be February 13, 2008. 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 bank fails to credit/deliver the shares as per agreed time schedule.
A member of the exchange entering into Future Trading in the bank shall have to comply with all the provisions contained in FTPLC (as already notified and circulated among the members) including those relating to Trading, Deposits and Margins and Clearing and Settlement and the trading in the shares of the bank will be governed by the said regulations. The National Clearing Company of Pakistan Limited has assigned Bank Code/Security Symbol as "AHBL".