The Karachi Stock Exchange (KSE) has invited bids for the purchase of membership rights/seats of the KSE from the eligible individuals and corporate bodies, financial institutions /banks (local and foreign). According to a notice issued here on Thursday, any offer, if accepted shall be subject to the terms and conditions and the membership criteria of the exchange.
The bids may be sent under sealed envelope marked as "Bid for Membership Rights" addressed to the Managing Director of the Exchange. The bids must reach KSE latest by May 06, 2011 up to 5:00 pm along with a Pay-Order for advance payment of 10 percent against the amount offered and drawn in favour of the Karachi Stock Exchange (Guarantee) Limited.
In case of non-acceptance of the offer, such amount shall be refunded. The applicants selected for the membership will have to pay the balance amount of their bid within 05 working days from the date of demand by the exchange, failing which the advance payment will be forfeited by the exchange.