LAHORE: Lahore Stock Exchange has approved the application for formal listing and quotation of shares of Lalpir Power Ltd on completion of all formalities required under the Listing Regulations of the Exchange.
Trading in the shares of the company will start on the Ready Board of the Exchange from August 20, 2013 and all transactions taking place in respect of the above company shall be settled on T+2 settlement basis from the above date. The first settlement date will be August 22, 2013. The market lot of the company will be 500 shares of Rs.10/- each.
The shares of the company have already been declared eligible security by the Central Depository Company of Pakistan Ltd. (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan (NCCPL), which has already assigned Company Code/Security Symbol as “LPL”. The opening price of shares of the company will be Rs. 22/- per share as determined through book building process. Normal circuit breakers will be applicable on the opening price of shares in the Ready Market.
The Share Registrar of the company is Central Depository Company of Pakistan Ltd., CDC House, 99-B, Block-B, S.M.C.H.S, Shahrah-e- Faisal Karachi-Ph: 021-111-111-500, Fax: 021-34326053. The company will be quoted under “Power Generation & Distribution” Sector of the Ready Board Quotation of the Exchange.
Managing Director and Chief Executive Officer of Lahore Stock Exchange Mr. Aftab Ahmed Chaudhry congratulated the stakeholders and management of Lalpir Power Limited, and informed the investors that after the listing of this company at the Lahore Stock Exchange a new product in Power Generation & Distribution sector will be available for investment. The MD also highlighted the steps taken by the LSE contributing to build a mechanism that has produced more transparency in the trading of the shares as well as to secure the investment of the investors. Lahore Stock Exchange is a fully electronic and completely automated stock exchange of Pakistan that is the only domestic exchange to have more than one trading floors in the region.