UDL International Limited Set to Make PSX Debut

Pakistan Stock Exchange (PSX) Tuesday announced the listing of UDL International Limited (UDLI) with effect from July 10, 2024 (Wednesday). In an announcement, PSX said UDLI is being listed on the Exchange pursuant to the Scheme of Arrangement for merger/ amalgamation of First UDL Modaraba (FUDLM) with and into UDL International Limited sanctioned by the Sindh High Court vide Order dated November 02, 2023. As per the swap ratio disclosed in the scheme, the certificate holders of FUDLM have been allotted 1 share of UDLI against 1 certificate of FUDLM. Trading in the shares of the company will commence on the PSX Main Board from tomorrow (Wednesday) and shall be settled on T+2 basis. The first settlement date will be July 12, 2024. The Market Lot of the Company will be 1 share of Rs. 10 each. The shares of the company have already been declared as an eligible security by the Central Depository Company of Pakistan Limited (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan Limited (NCCPL). NCCPL has assigned UDLI to the company as their company code/ security symbol. The opening price of the shares of the company will be Rs. 8 per share i.e. the closing price of the share of FUDLM at the time of suspension of trading in its certificates, which has already been disseminated through PUCARS on July 5, 2024. The company will be quoted in the Miscellaneous Sector in the daily quotation of the Exchange.