ISLAMABAD
\nThe Securities and Exchange Commission of Pakistan (SECP) has initiated an investigation into the accuracy and completeness of disclosures in the IPO of the SE
\nFruits and Vegetable Limited IPO. The investigation will examine whether any gaps, omissions or negligence occurred by the responsible parties in reporting the information and determine where responsibility lies.
\nThe inquiry will review the Pakistan Stock Exchange\u2019s role as a front-line regulator; the Consultant to the Issue\u2019s due diligence, role in preparing the prospectus and certification of its accuracy; and the auditor\u2019s audit of the Company\u2019s financial statements. It will also examine the SECP\u2019s internal procedures for review and approval of IPO applications.
\nThe findings of SECP\u2019s inquiry into the SE Fruits and Vegetable Limited IPO will guide improvements to the IPO review and approval framework. These will cover measures for adequate and accurate disclosures, proper discharge of duties by auditor and consultants, timely identification and proper reporting of all any material issues and coordination between PSX and SECP.
\nThe SECP Chairman Dr Kabir Sidhu said, \u201cEvery IPO must meet clear standards of disclosure, transparency, scrutiny and accountability. We will act firmly where failures are established and use the inquiry\u2019s findings to close gaps in the IPO regime. Our objective is a rigorous and transparent approval process with adequate disclosures that protects investors and supports credible businesses seeking capital.\u201d
\nThe findings of the investigation will be made public.<\/p>\n","protected":false},"excerpt":{"rendered":"
ISLAMABAD The Securities and Exchange Commission of Pakistan (SECP) has initiated an investigation into the accuracy and completeness of disclosures in the IPO of the SE Fruits and Vegetable Limited IPO. The investigation will examine whether any gaps, omissions or negligence occurred by the responsible parties in reporting the information and determine where responsibility lies. …<\/p>\n","protected":false},"author":4,"featured_media":76709,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-104567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/104567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/comments?post=104567"}],"version-history":[{"count":1,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/104567\/revisions"}],"predecessor-version":[{"id":104592,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/posts\/104567\/revisions\/104592"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media\/76709"}],"wp:attachment":[{"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/media?parent=104567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/categories?post=104567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/nabanews.pk\/en\/wp-json\/wp\/v2\/tags?post=104567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}