A delegation of All Pakistan Textile Mills Association (APTMA) on Wednesday visited Karachi Stock Exchange (KSE). The delegation headed by Yasin Siddik along with Anwar Ahmed Tata and other members of the APTMA had a meeting with Acting Managing Director KSE Haroon Askari, Director Abid Ali Habib and other senior management of the exchange.
The representatives of the Consultants and Lead Manager / Advisors to the public issue were also present on the occasion, including AKD Securities Limited, Arif Habib Limited, Cassim Investments (Private) Limited, Habib Bank Limited, JS Global Capital Limited, NIB Bank Limited, Pak Brunei Investment Company Limited and United Bank Limited.
Welcoming the APTMA delegation, Haroon Askari briefed the purpose of the meeting, which is to encourage and promote new listing. He explained that a public offer of securities provides access to a large number of potential investors and an efficient and effective way to raise capital.
He said that the credibility of the firm gets enhanced through listing and company acquires wider exposure of its brand and operations. He elaborated that even small enterprises with minimum paid up capital of Rs 10 million are eligible for listing through OTC market.
The representatives of Consultants and Lead Manager / Advisors also explained their role in facilitating listing of new securities and to help in designing financial plan of the companies to achieve the objectives. The representatives of APTMA also briefed about the problems being faced by the industry and appreciated the initiative taken by the Exchange in providing a forum to the representatives of the trade bodies to discuss the issues and encourage listing of their enterprises on the Exchange. It was agreed to have co-ordinated efforts on continuous basis to achieve the desired objective.-PR