SECP proposes NTN, ATL for participating in public offering
ISLAMABAD: Securities and Exchange Commission (SECP) has issued draft amendments for public offering and proposed requirement of NTN and appearance on Active Taxpayers List (ATL) for an investor for subscription of shares in book building process.
The SECP issued SRO 1174(I)/2017 to issue draft amendments to Public Offering Regulations, 2017 and issued comparative sheet for providing comments on the draft amendments.
The draft amendment proposed the investor should be on ATL of the Federal Board of Revenue (FBR) and provides his National Tax Number.
Besides, have net worth of at least Rs5 million as per last year tax return; and is registered with the National Clearing Company of Pakistan Limited as person who will be allowed to participate in the Book Building.