Listing of Rs300mn KESC TFCs approved

RECORDER REPORT

KARACHI: The Karachi Stock Exchange (KSE) has approved the application for listing and quotation of Rated, Listed and Secured Term Finance Certificates (TFC1) of Rs 300 million of Karachi Electric Supply Company Limited on completion of formalities required under the Listing Regulations of the Exchange.

The KSE on Wednesday notified that the trading in the TFC1 of the Company will start on this Exchange from August 13, 2012. All transactions taking place in respect of the above TFCs on the Exchange’s Bond Automated Trading System (BATS) shall be settled on T+1 settlement basis from the above date.  The TFCs of the Company have already been declared 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), which has assigned Security Symbol as “KESCTFC1”.

The KASB Securities Limited has been appointed as the Market Maker for the issue and will perform the role of Market Maker as disclosed under Clause No. 2.21 of the Prospectus.  The Transfer Agent of the TFCs of the Company is THK Associates Karachi.