Treet Battery Limited (TBL) is set to debut on the Pakistan Stock Exchange Limited (PSX) with effect from December 15, 2023, at the opening price of Rs. 10 per share.
In an announcement, PSX highlighted that TBL is being listed on the Exchange pursuant to de-merger / bifurcation of the Battery Division of First Treet Manufacturing Modaraba (FTMM), a listed Modaraba on the Exchange through Scheme of Arrangement (Scheme) sanctioned by the Lahore High Court vide Order dated January 10, 2023.
As per the swap ratio disclosed in the Scheme, the certificate holders of FTMM have been allotted 0.9984 share of TBL against 1 certificate of FTMM.
Trading in the shares of the Company will commence on the PSX Main Board from Friday, December 15, 2023, and shall be settled on T+2 basis. The first settlement date will be Tuesday, December 19, 2023.
The Market Lot of the Company will be 500 shares 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 “TBL” to the Company as its Company Code / Security Symbol.
The Opening Price of the shares of the Company will be Rs. 10 per share, as determined by the Company which has already been disseminated through PUCARS on December 12, 2023.
The Company will be quoted in the “Automobile Parts & Accessories” Sector in the Daily Quotation of the Exchange, the PSX notice said.
