Pakistan Stock Exchange (PSX) has approved the application for formal listing and quotation of certificates of Habib Metro Modaraba on completion of relevant requirements under the Listing of Companies and Securities Regulations of the Exchange. The PSX Wednesday notified that trading in the certificates of the Modaraba will start on the Ready Board of the Exchange from Friday, October 06, 2017 and all transactions taking place in respect of the Modaraba will be settled on T+2 settlement basis from the above date.
The first settlement date will be Tuesday, October 10, 2017. The market lot of the Modaraba will be 500 certificates of Rs 10.00 each. The certificates of the Modaraba have already been declared eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan Limited, which has already assigned the company code/security symbol as "HMM".
Normal circuit breakers as per Regulation No. 19.4(a)(iii) of the Risk Management Regulations of the PSX Rule Book will be applicable on the offer price during the first trading day in the Ready Delivery Contact Market. The Modaraba will be quoted under "Modarabas" sector of the daily quotations of the exchange.