SECP revises limit: foreigners cannot hold over 10 percent of PSX share capital

The Securities and Exchange Commission of Pakistan (SECP) has revised shareholding limit for foreigners in Pakistan Stock Exchange Limited, under which foreign persons shall not collectively acquire or hold more than 10 percent of the total issued share capital of the exchange. The SECP has amended the Stock Exchanges (Corporatisation, Demutualization and Integration) Regulations, 2012 through an SRO No 1278(I)2017 issued here on Friday.
Previously, foreign persons shall not collectively directly or indirectly acquire or hold more than 30 percent of the total issued share capital of the Exchange. Now the foreign persons, other than foreign anchor investor, shall not collectively, whether directly or indirectly, acquire or hold more than ten percent of the total issued share capital of the exchange.