Regulatory Alerts2025-09-03
Added · Updated
Amendments to the Companies (Further Issue of Shares) Regulations, 2020
The Securities and Exchange Commission of Pakistan amends the Companies (Further Issue of Shares) Regulations, 2020, to reduce regulatory timelines, substituting 45 days with 3 working days, 7 days with 5 days, and 20 days with 5 days for various Commission actions. The amendments mandate that companies submit draft offer documents with complete information on associated companies and key stakeholders, while requiring book closure for right shares and bonus issues to commence within 7 working days of the relevant resolution or document placement. Additionally, the regulations introduce new disclosure requirements for share class justifications, mandate same-day board decision notifications to the Commission and securities exchanges, and require the submission of fee payment evidence at the time of application.