29 January 2005	Saturday	18 Zilhaj 1425

KARACHI, Jan 28: The majority of 24 companies delisted by the Karachi Stock Exchange (KSE) during the past couple of years did not comply with or meet the requirements and regulations of the KSE.

Talking to APP, KSE Managing Director Moin Fudda said: "These companies were delisted on voluntary basis and we negotiated a good price for minority shareholders," he added.

Four companies were multinationals and the majority of shares were with them and less than 10 per cent of these shares were with the public and they wanted to be delisted, the KSE MD pointed out.

"There was no way that one could force them to be on the KSE. So we again negotiated a good price," he added. About the recent upward trend at the KSE, Mr Fudda remarked that there was a definite interest by the investors mainly in oil, gas and telecom sectors.

"My advice to the people is to see all the facts and figures and then invest because obviously the index has risen from the 5,000 level recently now to close to around 7,000," he added. -APP