Amendments to Public Offering Regulations, 2017

PART II
Statutory Notifications (S. R. O.)
GOVERNMENT OF PAKISTAN
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN Islamabad, the 6th August, 2025 NOTIFICATION S.R.O.1477(I)/2025.- In exercise of the powers conferred under sub-section (4) of
section 169 of the Securities Act, 2015, (Act No III of 2015), the Securities and Exchange
Commission of Pakistan is pleased to make the following amendments in the Public Offering Regulations, 2017, the same having been previously published in the official Gazette vide S.R.O.588(I)/2025 dated 7 th April, 2025, namely:- AMENDMENTS In the aforesaid Regulations, -

1. in regulation 1, sub regulation (3), in sub clause (iii), the words “Eligible Participants
   for Book Building” shall be substituted for the expression “Book Runner”;
2. in regulation 2,
   (i) in sub regulation (1),
   (a) for clause (va), the following shall be substituted,- “(va) “Bid” in case of debt securities means an intention to buy a specified number of debt securities (i) for a particular profit rate/spread in the case of fixed rate or floating rate instrument; or (ii) at a particular price at discount to the face value in the case of discounted rate instrument;”; (b) after clause (via), the following new definition (vib) shall be inserted,-