KARACHI (January 24 2007): The Karachi Stock Exchange (KSE), in consultation with the Securities & Exchange Commission of Pakistan (SECP) has awarded Deutsche Bank A G the exclusive financial advisor mandate which will include valuation of the KSE.

This is a further move towards KSE's demutualisation and in contemplation of its incorporation as a company limited by shares. Deutsche Bank has significant experience in advising and capital raising for financial institutions and corporates.

The signing ceremony to execute an 'Engagement Letter' was held here on Tuesday. Shazad G Dada, Chief Country Officer and Head of Global Banking, Pakistan, and Mahmood Qureshi, Chief Operating Officer and Country Controller, Pakistan, represented the Deutsche Bank, whereas Karachi Stock Exchange was represented by its Chairman, Zafar A. Khan, and Managing Director M. A. Lodhy, Director and Chairman Demutualization Committee Shehzad Chamdia, Munir M. Ladha, a former director, and Muhammad Rafiq Umer, Company Secretary.

Announcing the appointment, Lodhy expressed confidence in Deutsche Bank's expertise to provide the valuation and later to work in partnership with KSE to evaluate and implement strategic alternatives to broad-base KSE's equity structure.

Copyright Business Recorder, 2007