Bids invited for KSE membership <span class='TextClass'>[The News] 09 Feb, 2010</span>

KARACHI: The Karachi Stock Exchange (KSE) has invited bids for its membership right (seat) from eligible individuals, corporate bodies, financial institutions and banks.

Any company or individual, who fulfills the given criteria and wants to take benefit of demutualization, may send bid(s) under sealed envelope marked as Bid for Membership Rights addressed to the Managing Director of the Exchange latest by February 22 up to 5pm along with a Pay Order for advance payment of 10 per cent against the amount offered and drawn in favour of Karachi Stock Exchange (Guarantee) Limited.

In case of non-acceptance of the offer, such amount would be refunded, said a press statement issued here on Monday. The applicants selected for the membership will have to pay the balance amount of their bid within five working days time from the date of demand by the Exchange, failing which the advance payment will be forfeited by the Exchange, statement added.

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