KARACHI, Jan 23: The Karachi Stock Exchange (KSE) in consultation with the Securities and Exchange Commission of Pakistan (SECP) has awarded Deutsche Bank A.G. the exclusive mandate to act as financial adviser, which would include a valuation of the KSE.

In a press statement issued on Tuesday, the bourse stated that the mandate was a step closer towards the KSE’s demutualisation and in contemplation of its incorporation as a company limited by shares.

A signing ceremony to execute an ‘Engagement Letter’ was held on Tuesday, which was represented by Shazad G. Dada, chief country officer and head of Global Banking, Pakistan and Mahmood Qureshi, chief operating officer and country controller, from the Deutsche Bank side, whereas KSE was represented by its Chairman Zaffar A. Khan, M. A. Lodhi, managing director, Shehzad Chamdia, director/chairman Demutualisation Committee, Munir M. Ladha, former director/chairman Demutualisation Committee and Muhammad Rafique Umer, company secretary.