KARACHI: The Karachi Stock Exchange (KSE) has approved the application for formal listing and quotation of shares of TPL Trakker Limited on completion of all formalities requirements under the Listing Regulations of the Exchange.

The KSE on Wednesday notified that trading in the shares of the company will start on the Ready Board of the Exchange from July 16, 2012 and all transactions taking place in respect of the company shall be settled on T+2 settlement basis from the said date.

The first settlement date will be July 19, 2012. The market lot of the company will be one share of Rs. 10.

According to a KSE notice, the shares 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 Company Code/ Security Symbol as "TPL".

The opening price of shares of the company will be Rs. 10 per share as determined through book building process. Normal Circuit Breakers will be applicable on the opening price of shares in the Ready Market.

The share registrar of the company is THK Associates (Pvt.) Limited, Karachi.

The company will be quoted under "Technology Hardware and Equipment" Sector of the Daily Quotations of the Exchange.