Pakistan, July 4 -- The Securities and Exchange Commission of Pakistan (SECP) has issued notification for public consultation on the proposed amendments to the Companies (Further Issue of Shares) Regulations, 2020 (the "Regulations").
These amendments focus on streamlining the processes for bonus and right shares issuance and to significantly reduce timelines by 87% and 72% for bonus and right issue respectively, thereby enhancing market efficiency and enabling quicker capital mobilization, said a release issued here on Thursday.
Timelines for bonus and right shares issue are proposed to be reduced to 11 days (existing: 85 days) and 50 days (existing 181 days) respectively.
The draft amendments followed an extensive consultation process ...