Regulatory Alerts2018-01-05
Added · Updated
Amendments to Public Offering Regulations 2017
The Securities and Exchange Commission of Pakistan amends the Public Offering Regulations 2017 to introduce definitions for Green Field Projects, Offer Price, and Price Band, establishing a price band limit of 40% above the Floor Price. New eligibility criteria require issuers to have operated for at least three financial years with a profitable track record for two preceding years, though these exemptions apply to Green Field Projects. The amendments also impose bid restrictions on issuer associates (10%) and consultant associates (5%), mandate scrip-less issuance, and update disclosure requirements for post-issue free float and peer group comparisons in the prospectus.
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