KARACHI, Sept 21: The Karachi Stock Exchange has announced that trading in shares of Habib Bank Limited would commence from next Monday.

The bourse in a notice issued here on Friday stated that that it had approved the application for formal listing and quotation of HBL shares and trading in its shares would begin from September 24 and all transactions taking place in respect of the HBL would be settled on T+2 settlement basis. The settlement date will be September 26.

All outstanding transactions up to September 21, 2007 carried out under the Regulations of Future Trading in the Provisionally Listed Companies would be settled separately on Wednesday through the clearing house of the exchange. The market lot of the bank would be 100 shares of Rs10 each, said the notification.

The shares of the HBL had already been declared eligible security by the Central Depository Company of Pakistan (CDC) and all the transaction with affect from the date to be notified by the National Clearing Company of Pakistan Ltd (NCCPL) separately will be settled through the NCCPL which has assigned company code or symbol as “HBL”, it concluded.