Securities and Exchange Commission of Pakistan holds roundtable on Takeover Regulations
Islamabad: Securities and Exchange Commission of Pakistan (SECP) organized a roundtable meeting in Lahore with representatives of the corporate sector on proposed amendments to the 2008 Takeover Regulations.
The roundtable discussed subjects like introduction of chain acquisition principle, takeover fee, clarification on negotiated weighted price, introduction of chartered accountant as valuer for valuation of financial assets, fixing responsibility of acquirer to confirm the report of valuer, changes in the office of manager to offer.
The SECP took this initiative in light of feedback of the corporate sector to remove the hurdles faced during acquisition process and to encourage takeovers of listed companies. The participants gave their inputs and suggested amendments to the Takeover Ordinance with regards to price offered to minority shareholders and the offer size in the public offer may be revisited to a lower side.
The SECP has plans to interact with the stakeholders in Karachi. Afterwards, the SECP will finalize the Takeover Regulations.
For more information, contact:
Shakil Ahmad Chaudhary
Head, Internal and External Communication
Securities and Exchange Commission of Pakistan (SECP)
NIC Building, 63 Jinnah Avenue, Islamabad
Tel: +9251 921 4005 or 921 4009 (Ext. 378)
Fax: +9251 920 6459
Cell: +92302 855 2254