KARACHI, Aug 3: Number of Investor Accounts has crossed 14,300 due to investors' response to the Central Depository Company (CDC) Investor Account Services (IAS), a press release issued by CDC on Tuesday said.
It stated that the role of CDC in the IPOs of OGDC, Abamco Composite Fund, Bank Alfalah and secondary offering of SSGC and PIA had proved successful. In case of OGDC 60.84 per cent shares were directly credited into the system while electronic book entries in SSGC, Abamco Composite Fund, Bank Alfalah and PIA were 36.55; 74.83; 42.91 and 52.59 per cent of the total issue, respectively.
The company stated it was hopeful that a major part of the offered 102.8m shares in Pakistan Petroleum Limited would be credited into the Central Depository System (CDS).
CDC said it had transferred the role of uploading subscribers' information on the CDS to the issuers and registrars in a bid to add efficiency, swiftness and confidentiality to the credit process.
Instead of providing the said information to them, issuers and registrars were now able to upload the information of successful allottees into the CDS themselves, the CDC said.
