KARACHI: The two-day (March 22, 23) Pakistan Day capital market conference went into gear in New York on Monday, with reports reaching here suggesting show of foreign funds’ interest in Pakistani equities.
First Capital Equities (FCE) -- a local brokerage house, in collaboration with Central Depository Company, Auerbach Grayson & CO (AGCO) of US, and Bank of New York Mellon (BNY Mellon) are the host to the conference. Pakistan’s Ambassador to US, Husain Haqqani was expected to be the keynote speaker.
An earlier press note by FCE stated that Pakistan equity market offered opportunities to foreign investors owing to its attractive valuations.
“The conference aims to provide a face-to-face platform for offshore fund mangers to network with the management of Pakistan’s top companies,” the brokerage house note stated.
The ten companies participating in the conference included Arif Habib Investments, Engro Corporation, Fatima Fertiliser, Hub Power Co, Kot Addu Power Co, Lucky Cement, National Bank, OGDC, Pace Pakistan, Pakistan Petroleum, PSO and United Bank.
“The conference will help the foreign investors to enhance their understanding of the economic trend, industry dynamics and company specific developments, thereby, facilitating them to formulate their investment strategies regarding the stocks in a more efficient manner,” the note stated.
A press release by the Karachi Stock Exchange on Monday observed that the conference had attracted “key institutional investors, leading Fund Managers and Financial Institutions of US.”
On the opening session on Monday, the MD of Karachi Stock Exchange, Adnan Afridi, presented an overview of Pakistan economy and capital markets.
He informed leading Fund Managers attending the conference of the KSE efforts to promote new products and attract global flows.
“Investors urged the KSE to accelerate the process of demutualization and increase the free float of the market,” the KSE press release stated.
Source Dawn News
No comments:
Post a Comment