KSE invites bids for member cards

2 cards already sold for Rs60mn, 3 more yet to be sold
Nawaz Ali
KARACHI: Karachi Stock Exchange (KSE) has invited bids for the membership rights of the exchange. According to a notice issued by KSE, any company or individual who fulfils the given criteria which is available on exchange's website and want to take the benefit of Demutualization may send bid(s) latest by February 22, 2010.
Director Karachi Stock Exchange, Dawood Jan Mohammad told The Financial Daily that exchange had five membership cards of the expelled members for sell, out of which two cards had been sold for Rs60 million each a few months back, while the remaining three cards are still to be sold.
It should be noted the five members of the exchange were expelled on non-settlement of investor claims last year. These members include; AAG Securities, MKA Securities, Capital One Equities, Cliktrade Limited and Eastern Capital.