Stocks Observer. com

The SECP has approved various documents submitted by the stock exchanges under  the  Stock Exchanges (Corporatization, Demutualization and Integration) Act, 2012. Promulgated on May 7, 2012, the Act provides  a framework for the corporatization, demutualization and integration of the stock exchanges . The demutualization  will bring the Pakistani capital market on a par with  other international jurisdictions,  result in enhanced governance and transparency at the stock exchanges  and will attract strategic investors which will not only provide equity and technical expertise but will also result in increased visibility of these exchanges on international capital market forums. The approved documents include revaluation of assets and liabilities of the stock exchanges, plans for the segregation of commercial and regulatory functions and memorandums and articles of association of the exchanges. The SECP has also approved the authorized and paid-up capital of the exchanges wi