Book Building Regulations 2015

The Securities and Exchange Commission of Pakistan establishes regulations for public offerings via book building, applying to issuers, offerers, book runners, and designated institutions. The rules mandate a minimum offer size of twenty-five million shares, cap the book building portion at seventy-five percent of the total offer, and require the use of an electronic system operating on the Dutch Auction Method. Eligible investors must meet a minimum bid size of one million rupees, while restrictions prohibit bids below the floor price, consolidated bids, and participation by related employees. Book runners must be registered with the Commission, and the process allows for cancellation if fewer than forty bids are received or if no bids are made at the floor price.

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PART-II
Statutory Notifications (S.R.O.)
Government of Pakistan
SECURITIES AND EXCHANGE COMMISSION OF PAKISTAN NOTIFICATION Islamabad, the 1 st July, 2015 S.R.O. 636 (I)/2015.__ In exercise of the powers conferred by section 40 read with clause (a) and (d) of sub-section (4) of section 20 of the Securities and Exchange Commission of Pakistan Act, 1997 (XLII of 1997), the Securities and Exchange Commission of Pakistan in consultation with the Securities and Exchange Policy Board, hereby makes the following regulations, the same have been previously published vide Notification No.S.R.O.35(I)/2015 dated the 15th January 2015 and in newspapers on February 07, 2015, as required by sub-section (2) of the said section, namely:-
CHAPTER I
PRELIMINARY

Short title and Commencement.__ (1) These Regulations shall be called the Book Building
Regulations, 2015.
(2) They shall come into force at once
(3) They shall apply to;
(i) offer of shares for sale by the Issuer or the Offerer through Public Offerings by way of book building; (ii) Issuer and the Offerer; (iii) Book Runner; and (iv) Designated Institution.

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Lineage: In force

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Source: Securities and Exchange Commission of Pakistan — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works