LSE Financial Services to Officially List On PSX Tomorrow

LSE Financial Services Limited (LSEFSL) will officially list on the Pakistan Stock Exchange (PSX) with effect from tomorrow i.e. Friday, May 31, 2024, said a notice at the main bourse on Thursday. This is in accordance with the Scheme of Arrangement for the transfer of the listing status of Modaraba Al-Mali (MODAM) to LSE Financial Services Limited, sanctioned by the Lahore High Court vide its order dated April 03, 2024, the notice added. As per the swap ratio disclosed in the Scheme, the certificate holders of MODAM have been issued 65.03 shares of LSEFSL against 1,000 certificates of MODAM. Trading in the shares of the Company will commence on the PSX Main Board from tomorrow i.e. Friday, May 31, 2024, and shall be settled on a T+2 basis. The first settlement date will be Tuesday, June 4, 2024, while the Market Lot of the Company will be 1 share of Rs.10/- each. The shares of the Company have already been declared as an eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan. Limited (NCCPL). NCCPL has assigned LSEFSL to the Company as their Company Code/Security Symbol. The Opening Price of the shares of the Company will be Rs. 10/- per share, as contained in the Scheme and determined by the Company, already disseminated through PUCARS on April 9, 2024. The Company will be quoted in the “Investment Banks / Investment Companies / Securities Companies” Sector in the Daily Quotation of the Exchange.