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Pakistani firm to invest more in JV with Chinese tyre giant--China Economic Net
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Pak-China JV tyre plant to start production this month
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Pak-China JV tyre plant to start production this month--China Economic Net
en.ce.cn - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from en.ce.cn Daily Mail and Mail on Sunday newspapers.
The March 26 decision to withdraw incentives for new listings on the Pakistan Stock Exchange (PSX) makes no sense.
Just compare the number of listed companies on the Bombay Stock Exchange 5,439 with market capitalisation of $2.8 trillion with the miniscule 540 on the PSX and market capitalisation of $52 billion. It can be concluded that public money managers in Islamabad do not understand the importance of mobilising funds from the equity market by companies.
The tax credit granted to encourage companies for enlistment was abolished through Tax Laws (Second Amendment) Ordinance 2021. The concession had been granted through Finance Act 2010, which provided that “Where a taxpayer being a company opts for enlistment in any registered stock exchange in Pakistan on or before June 30, 2022, a tax credit equal to 20 per cent of the tax payable shall be allowed for the tax year in which the said company is enlisted and for the following three tax years: provided that the tax credit
Service Global plans IPO
March 17, 2021
KARACHI: Service Global Footwear Ltd., Pakistan’s largest shoe exporter, is planning an initial public offering in the domestic market to raise funds to invest in its parent’s tire joint venture, Bloomberg reported on Tuesday.
The Lahore-based company plans to raise at least Rs1.6 billion rupees by offering 41 million shares at a floor price of 38 rupees each, according to Shahid Ali Habib, chief executive officer at Arif Habib Ltd., the sole adviser to the IPO. The price could be boosted by as much as 40 percent, meaning Service Global Footwear could raise as much as $14 million, Habib said. The company is scheduled to start taking investor orders as soon as the last week of March, he added.