The Securities and Exchange Commission of Pakistan (SECP) has initiated a thorough inquiry into the initial public offering of SE Fruits. Investigators will assess whether the company provided complete and accurate information to the public and determine if any negligence occurred.
The review will scrutinise the preparation and approval of the company's prospectus. Specific roles played by the auditor, the consultant to the issue, and the Pakistan Stock Exchange (PSX) are included in the scope of the probe.
The commission will also evaluate its own internal procedures for reviewing IPO applications to find potential flaws in the approval process. Dr. Kabir Sidhu, Chairman of the SECP, stated that the objective was to ensure investors receive accurate information and that the IPO process remains transparent.
Sidhu added that the findings would be used to improve the IPO approval system and strengthen transparency in the capital market. The SECP will establish responsibility if any lapses or negligence are identified during the inquiry.
Parties found responsible for irregularities could face formal action. Officials confirmed that the commission will release the results of the investigation into the SE Fruits IPO to the public.
