Pakistan Stock Exchange refunds SE Fruits and Vegetable Limited IPO investors

The move follows a regulatory suspension after discrepancies between reported sales and tax returns were discovered in the company's prospectus.

کاروبار۲۳ اکتوبر ۲۰۲۶تحریر Web Desk

Pakistan Stock Exchange refunds SE Fruits and Vegetable Limited IPO investors

The Pakistan Stock Exchange (PSX) has confirmed it issued full refunds to all investors who participated in the SE Fruits and Vegetable Limited initial public offering (IPO). These payments were processed following a specific directive from the Securities and Exchange Commission of Pakistan (SECP).

SE Fruits and Vegetable Limited officially withdrew its IPO application after the regulator suspended further proceedings to safeguard investors. In September 2026, the SECP had granted the company permission to publish and issue a prospectus for 30 million ordinary shares.

A complaint filed on 11 September highlighted inconsistencies between the company's reported sales and its sales tax returns for the period of 2022 to 2026. The company announced on 13 October that it would pull its current application to refile with more comprehensive disclosures.

The SECP has initiated a formal probe into the prospectus, the auditor's performance, the issue consultant's due diligence, the oversight by the PSX, and the regulator's own approval process.

ٹیگglobal markets

متعلقہ خبراں

کاروبار-۱ min

Pakistan to apply for new EU GSP+ trade scheme in 2027

The move aims to secure continued trade preferences as the current framework expires, with a grace period extending benefits until 2028.

کاروبار-۱ h

Pakistan considers creating new federal tax collection agency to boost revenue

The move follows fears of a Rs650 billion revenue shortfall and a history of missing annual targets by over Rs1.1 trillion.

کاروبار-۲ h

Interloop Limited approves Rs6.5 billion budget for apparel and hosiery expansion

The investment aims to modernise facilities and boost production capacity to meet growing global customer demand.

کاروبار-۲ h

IMF warns Pakistan's external position may weaken as imports rise

کاروبار-۲ h

LPG prices in Khyber Pakhtunkhwa reach Rs750 per kilogram as supplies dwindle

The closure of the Taftan border due to Iran-US tensions has tightened domestic supply, causing cylinder costs to surpass Rs10,000.

کاروبار-۹ h

L'Oreal develops new skincare products to counter weight loss drug side effects

The cosmetics giant is pivoting its strategy as GLP-1 medications like Ozempic alter consumer beauty habits and cause visible skin sagging.