KARACHI (April 11 2007): The Karachi Stock Exchange (KSE) has approved the application, for formal listing and quotation of shares, of Standard Chartered Bank (Pakistan) Limited (SCBPL), with effect from April 13, 2007.

The KSE approved the application on completion of all relevant requirements under the Listing Regulations of the Exchange and Standard Chartered Bank (Pakistan) Limited is being listed on the Exchange pursuant to the scheme of amalgamation of Union Bank Limited with, and into, Standard Chartered Bank (Pakistan) Limited.

Trading in the shares of Standard Chartered Bank (Pakistan) Limited will start on the KSE from April 13, 2007 and all transactions taking place in respect of the bank will be settled on T+3 settlement basis from the said date. The first settlement date will be April 18, 2007. The market lot of the bank will be 100 shares of Rs 10 each.

The shares of the bank have already been declared eligible security by the Central Depository Company of Pakistan Limited (CDC) and all transactions will be settled through National Clearing Company Limited (NCCPL), which has already assigned Bank/Security the Symbol 'SCBPL'.

The Share Department of the bank is located at Hameed Majeed Associates (Private) Limited, H. M. House, 7-Bank Square, Lahore. The bank will be quoted under 'Commercial Banks' Sector of the Ready Board Quotation of the Exchange.

Copyright Business Recorder, 2007