Demutualization process to be completed by year-end: LSE Chairman

Chairman Lahore Stock Exchange (LSE) Hamesh Khan has said that the process of demutualizaton is continuing and the exchange is expected to become a demutualized body by end of the year.
"We are very much on the track of dumutualization and the process is expected to be completed by December 31, 2007" he told media people at the concluding ceremony of a two-day training workshop arranged by LSE Training Institute in collaboration with Lahore Economic Journalists Association (LEJA), here on Thursday. In demutualizated stock exchanges ownership rights are separated from the trading rights while at present, the members simultaneously have the ownership and trading rights, he pointed out.
Earlier, speaking at the function, Hamesh Khan said that investment in the stock market on longer term could be beneficial, but an investor should know the track record of the company before making investment in its share. According to him, considerable foreign portfolio investment was pouring in the stock market, which reflected foreign investors' trust in country's economic policies.
Hamesh Khan expressed the hope that this media workshop would help the participants write more accurately and comprehensively on the developments taking place in the stock markets of the country. Head of LSE Training Institute, Dr Shahid A Zia also spoke on the occasion and highlighted aims and objectives of the workshop. He hoped that his workshop, which had been exclusively arranged for the economic journalists, would help improve their writing skills.