(Disclaimer: this is a work of fiction. Learn to take a joke; you’ll live longer.)
The Securities and Exchange Commission of Pakistan expressed strong reservations on Thursday against an ‘irrational’ acquisition offer against an entity that has been valued at two Takas (Rs 3.68) by an independent external audit firm.
“This difference in values is clear enough to indicate that there is some suspicious market activity afoot,” said Aamir Khan, SECP chairman. “Yes, there are some concerns about the objectivity of the firm Danish & Danish, but even accounting for that, there definitely seems to be something wrong here.”
“Yes, we know that the utility of an entity can lie in the eye of the investor, who might have a turnaround in mind and yes, it’s a free market, but we still have mechanisms in place that keep such activities in check,” he said. “We have to watch out for the little guy in the market.”
