ISLAMABAD: Securities and Exchange Commission of Pakistan (SECP) has proposed curtailing shareholding limits of foreign persons to 10 percent from 30 percent.
A draft issued by the commission on Wednesday proposed amendment to clause (i) in regulation 43 of the Stock Exchanges (Corporatization, Demutualization and Integration) Regulations, 2012, which read as:
“(i) foreign persons, other than foreign anchor investor, shall not collectively, whether directly or directly, acquire or hold more than ten percent of the total issued share capital of the exchange:
Provided that the commission may, if deems fit in the interest of capital markets, increase the limit of shareholding for foreign persons, other than foreign anchor investor, to twenty percent of the total issued share capital of the Exchange.”
The existing clause to the regulation is read as:
“(i) foreign persons shall not collectively directly or indirectly acquire or hold more than thirty percent of the total issued share capital of the exchange.”
