The assets of three brokerage houses suspended by the KSE would be placed on the auction block on June 24 (Tuesday).
The bourse has put the ‘floor’ or ‘reserve’ price at Rs42.5m for ‘bundle’ of assets of each of the suspended broker.
No names were named by the Karachi Stock Exchange on Wednesday, but people familiar with the affair asserted that they included: ZHV Securities; Moosa Noor Mohammad Securities and Pearl Capital Management.
Between October 2012 and 2013, the bourse had forfeited the Trading Right Entitlement Certificate (TREC) of the brokerages mainly for their inability to resolve admitted investors’ complaints/claims arising out of trades/transactions, registered with the KSE, due to financial distress.
