Pakistan Stock Exchange Limited (PSX) has approved the application for formal listing and quotation of Certificates of Orient Rental Modaraba on completion of relevant requirements under the Listing of Companies and Securities Regulations of the Exchange. The PSX on Tuesday notified that trading in the Certificates of Modaraba will start on the Ready Board of the Exchange from Friday, November 17, 2017 and all transactions taking place in respect of the Modaraba shall be settled on T+2 settlement basis from the above date. The first settlement date will be Tuesday, November 21, 2017. The market lot of the Modaraba will be 500 Certificates of Rs 10.00 each.
The certificates of 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 (NCCPL), which has assigned Company Code/Security Symbol as "ORM". The circuit breakers as per Regulations 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 Contract Market and thereafter, normal circuit breaker will be applicable. The Modaraba will be quoted under "Modarabas" Sector of the Daily Quotation of the Exchange.