KSE clears Bank Alfalah’s Rs5bn TFCs for listing


The Karachi Stock Exchange (KSE) has approved application for the listing and quotation of the 5th issue of Rated, Listed, Unsecured and Subordinated Term Finance Certificates (TFCs) of Rs 5 billion of the Bank Alfalah Limited.
The approval was granted to the bank after completion of the formalities required under the Listing Regulations of the Exchange.
Monday saw the Exchange notifying that trading in the banks’ TFCs would start from March 28 on the KSE. The transactions would take place in the said TFCs through Bonds Automated Tracing System (BATS) and shall be settled on T+1 settlement basis.
It said the TFCs had already been declared as an eligible security by the Central Depository Company of Pakistan (CDC) and all the transactions shall be settled through the National Clearing Company of Pakistan Limited, which has assigned “BAFLTFC5” as a security symbol to the certificates.
The Arlf Habib Limited has been appointed as market maker for the issue and would perform the role of market maker as disclosed under Clause Number 2.24 of the Prospectus.