SECP cancels Modaraba Management License of LSE Capital Limited

LSE Capital Limited announced on Friday that the Securities and Exchange Commission of Pakistan (SECP) had cancelled its license to operate as a Modaraba Management Company.

The listed company disclosed in a notice to the Pakistan Stock Exchange (PSX) today.

The notice said that the SECP had accepted LSE’s request “for voluntary de-registration and has de-registered its Modaraba Management Company License with immediate effect under the provisions of the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980”.

LSE Capital is licensed as a modaraba management company. Besides carrying the license to act as a consultant on the issue for IPOs and corporate finance advisory services.