PSX clarification

"A Press briefing was held on Friday, November 29, 2019, at Pakistan Stock Exchange, where details about the signing of the agreement for acquisition of IT Trading & surveillance system for PSX from Shenzhen Stock Exchange (SZSE), China, were shared with various media representatives. The agreement signing had taken place earlier at a ceremony in Shenzhen, China, for which a delegation of Directors of Pakistan Stock Exchange, led by the Chairman PSX, Sulaiman S. Mehdi paid a visit to China.

"This is to clarify that in the said press briefing, the Chairman, Pakistan Stock Exchange had stated that there is potential to attract Chinese investors' interest in the Pakistani Capital Market and Bonds in view of the attractive valuations compared to the regional markets. However, there are capital control restrictions by the Chinese Government regarding foreign investments. It was further stated that the Chinese investment in our Capital Market could be possible subject to relaxation of such restrictions.

"Furthermore, the Chairman PSX informed the media representatives gathered at the press briefing that the said matter of relaxation of capital control restrictions may be taken up by the relevant authorities of both the countries at an appropriate forum. For this purpose, Pakistan Stock Exchange is pursuing and will always be at the forefront to facilitate the same. As such any interest indicated was just for the futuristic perspective and should not be construed as an investment commitment at this point in time.

"This clarification is presented in view of the news items appearing in some publications of Pakistan so that it may not cause to be misled by the general public and that it should be taken in the right context."