KARACHI, July 8: Some members of the Karachi Stock Exchange, have, in their haste, printed and circulated application forms for public subscription to the upcoming IPO of Pakistan Petroleum Limited (PPL) , containing incorrect information, managing director KSE, Moin M.Fudda said in a statement on Thursday.

He cautioned investors that such application forms circulated by the members, with their printed name along with broker's code are not in accordance with the prescribed format approved by the KSE and the SECP. Moreover, bankers to the offer printed in those application forms as well as the code numbers assigned to banks are also sometimes incorrect.

In order to clear up the ambiguity, KSE released the correct names of bankers to the offer and code numbers, which are as follows. (code numbers in brackets): (01) Allied Bank of Pakistan Limited (10) KASB Bank Limited (02) ABN Amro Bank N.V. (09) Jahangir Siddiqui Investment Bank Ltd. (11) Muslim Commercial Bank Limited (03) Bank Alfalah Limited (12) Metropolitan Bank Limited (04) Bank AL Habib Limited (13) National Bank of Pakistan (05) Faysal Bank Limited (14) Prime Commercial Bank Limited (06) First Women Bank Limited (15) Saudi Pak Commercial Bank Limited (07) Habib Bank A.G. Zurich (16) Soneri Bank Limited (08) Habib Bank Limited (17) Standard Chartered Bank and (18) United Bank Limited.

The KSE statement said that in order to avoid any difficulty, which may lead to rejection of such applications, all potential investors have been advised that any application form which contains printed name of the broker and code number must not be used for subscription of the shares of the company by the applicants.

The application forms obtained through the members of the exchange that will be entertained for public subscription of the shares of the company must bear the rubber stamp of the broker with code number. The investors may approach the members of the Exchange and collect the correct application forms bearing rubber stamp of the brokers.

The Managing Director, regretted that a few of the members had also offered rewards to investors in their incorrect application forms with their names printed on it, which is not only against the best practices, but also dims the good image of the stock exchange.