Regulatory Alerts2021-10-05
Added · Updated
Public Offering Regulations, 2017 (Updated September 15, 2021)
The Securities and Exchange Commission of Pakistan establishes regulations governing public offerings of securities by public limited companies, offerors, and associated intermediaries. The rules mandate a profitable track record for at least two preceding financial years, with specific provisions allowing loss-making companies to proceed if sponsors retain at least 51% of post-issue paid-up capital until profitability is restored. The regulations define key terms for book building, including bid prices and price bands, and specify applicability exclusions for special purpose vehicles and government-guaranteed debt securities.
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