Six Pakistani companies to be listed on FTSE

Six Pakistani companies are soon going to be listed on Financial Times Stock Exchange’s (FTSE) Global Equity Index, local media has reported.

These companies, registered on the Pakistan Stock Exchange (PSX), will officially be listed on the FTSE Global Equity Index on March 20, 2017.

The companies include:

  • Engro Corporation Limited (ENGRO), a Karachi-based corporation specialising in the production of fertilisers, food, energy, chemicals, and petrochemicals.
  • Habib Bank Limited (HBL), the largest private sector bank in the country with over 1,600 branches, and a customer base exceeding eight million.
  • Nishat Mills, Lahore-based vertically integrated textile flagship company of the Nishat Group.
  • Mari Petroleum Company Limited, country’s largest petroleum exploration and production company.
  • Fauji Fertilizer Company Limited, the largest fertilizer production company in the country.
  • The Searle Company Limited, a pharmaceutical company with business operations in several countries across the globe.

The FTSE Global Equity Index Series covers around 7,400 securities in 47 different countries.The development is believed to boost investor confidence and attract foreign investment into the Pakistan Stock Exchange (PSX).

Pakistan has been a part of the FTSE Global Equity Index Series earlier. However, the 2008 crash caused Pakistan to drop-out from the list.

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