In an announcement, PSX said UDLI is being listed on the Exchange pursuant to the Scheme of Arrangement for merger/ amalgamation of First UDL Modaraba (FUDLM) with and into UDL International Limited sanctioned by the Sindh High Court vide Order dated November 02, 2023. As per the swap ratio disclosed in the scheme, the certificate holders of FUDLM have been allotted 1 share of UDLI against 1 certificate of FUDLM.
The company’s shares will be traded starting tomorrow, Wednesday, on the PSX Main Board. Trades will be settled on a T+2 basis. July 12, 2024, will be the first settlement date. The company’s market lot would consist of one share, each worth Rs. 10.
The National Clearing Company of Pakistan Limited (NCCPL) will handle all transaction settlement for the company’s shares, which have previously been designated as suitable securities by the Central Depository Company of Pakistan Limited (CDC). NCCPL has designated UDLI as the company’s security symbol and corporate code.
The company’s shares will open at Rs. 8, which is the closing price of a FUDLM share at the time of trading suspension in its certificates, which have already been distributed via PUCARS on July 5, 2024. The company will be quoted in the Exchange’s daily quotation under the Miscellaneous Sector.
