KARACHI: The Pakistan Stock Exchange (PSX) proposed to demerge its real estate from regular operations through creation of a separate entity, the bourse said on Friday.

“The board has approved the concept of demerger,” PSX stated, adding that the shares of the real estate entity would be issued to the existing shareholders of the exchange.

The board mandated the management to hire investment banking and legal counsel services to facilitate the process.

Besides, the PSX management was also said to be engaged in discussion with Securities and Exchange Comm­ission Pakistan and other stakeholders to further deliberate on the details of SECP’s circulated concept paper regarding the establishment of a ‘unified regulatory entity’.

Published in Dawn, February 24th, 2018