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The Securities and Exchange Commission of Pakistan (SECP) registered seven companies as book runners under the Book Building Regulations, 2015, promulgated in accordance with Securities Act 2015. All the seven registered book runners are corporate brokerage houses.
The recently introduced regulations inter alia prescribes the eligibility criteria, procedure and conditions for public offering including, procedure of bidding, appointment of a book runner, registration of book runner, registration of the eligible investors, duties and responsibilities of the issuer, the offerer, the book runner and the designated institution ie the institution providing the book building system, procedure for making bids, time period for bidding, basis of allotment etc.
As per the BB Regulations, commercial banks, development finance institutions, and corporate brokerage house holding a valid license are eligible to seek registration for acting as book runner. Contact detail of all the registered book runners is uploaded on the SECP's official website www.sec.gov.pk and updated from time to time.-PR

Copyright Business Recorder, 2016

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