Annual general meetings schedule

Companies have announced their annual general meetings in which they would receive and adopt the audited accounts for the year ended on June 30, 2011.

Pakistan State Oil

Pakistan State Oil (PSO) 35th Annual General Meeting will be held on Thursday, September 29, 2011. In the meeting board of directors of the company would approve final cash dividend of 20 percent in addition to the interim dividend of 80 percent already paid, thereby making a total dividend of 100 percent for the year ended June 30, 2011.

Pakistan Cables Limited

Recovery After Crash

After the index breaking the 9,900 level last month, started to rise gradually. When such a crash comes there is a level where short sellers start profit taking, so there is a slight change in the trend. Secondly the prices came on the lower level that they attracted the individuals to buy shares. As the future contracts for December were over and new month started so a fresh buying in Jan contracts was obvious. Another factor in my opinion which played the most vital role in supporting the index was the news that Prime Minister has postponed the decision to levy capital gain tax for next year. This made the institutions to come to the market for fresh purchasing. We saw that the index gained about 250 points in two days.

Only five IPOs at stock market in 2006

Despite the continuation of investor-friendly policies and a decent growth in corporate earnings, the local capital market remained slow in terms of attracting new listings compared with the previous year.

The calendar year 2006 was a depressing year in terms of Initial Public Offerings (IPOs). While the performance of the market is primarily examined by the index change, the growth of capital market can be determined by looking at the fresh issues brought into the market through IPOs.

With 2006 approaching its end, we are presenting an analysis of the stock offerings that took place during 2006.

PPL approves 55pc final dividend

The 55th Annual General Meeting (AGM) of Pakistan Petroleum Ltd (PPL) on Monday approved a final cash dividend of 55 per cent on Ordinary Share Capital for the fiscal year 2005-06.

This final cash dividend is in addition to the interim dividend of 35 per cent on Ordinary Share Capital and 30 per cent on Convertible Preference Shares Capital already paid to the shareholders in April this year, said a press release issued here.

Chairman PPL M A K Alizai said the company has been able to maintain the momentum of consistent and rapid growth in financial year 2005-06. He informed the meeting that the PPL’s sales revenue increased by 36 per cent to Rs31.8 billion.

Kapco posts Rs3,687m profit in six months

Kapco posts Rs3,687m profit in six months

The Privatization story of Kot Addu Power Company Limited (Kapco) has finally begun to unfold as the company disclosed financial results for the half year ended December 31, 2004.

In an announcement released through the Karachi Stock Exchange on Saturday, the company posted after tax profit of Rs3,687 million for the six months, July-December 2004. That translated into earning per share (eps) of Rs4.19 on 880 million outstanding shares.

KAPCO IPO Subscription from Feb 7

Pakistan will hold an initial public offering of up to 20 per cent of shares in regional power firm Kot Addu Power Co (KAPCO) next month at a price of Rs30 per share, the Privatisation Commission (PC) said on Monday.

The government will offer 88.025 million shares, or 10 per cent of the total, with a green shoe option of another 10 per cent, in lots of 500 from Feb 7, the Commission said in a statement.

It plans to raise as much as Rs5.28 billion ($88.8 million) from the sale. The IPO has been delayed twice. It was initially planned for October, then pushed back to the end of December.