KARACHI: As the three stock exchanges in Pakistan are being integrated into a single bourse, the Securities and Exchange Commission of Pakistan and the Karachi Stock Exchange (KSE) will organise a grand launch on January 11 in Islamabad.
High-ranking government officials, foreign dignitaries, international fund managers and high-net worth individuals are expected to attend the ceremony. Under the merger plan, operations of the Islamabad and Lahore stock exchanges are being integrated into the KSE, which will be renamed as the Pakistan Stock Exchange Limited.
“This integration will complete the second phase of the Stock Exchanges Demutualisation and Integration Act 2012, passed by a joint session of parliament,” says a statement issued by the KSE on Tuesday.
With completion of the process, the capital market will enter into a new era of growth and development as it will encourage wider participation of all classes of investors.