Karachi: The Central Depository Company of Pakistan Limited (CDC) has announced that the unlisted Ordinary Shares - Class C of Mughal Iron and Steel Industries Limited will become eligible securities within its Central Depository System (CDS) starting on December 4, 2024. This decision, made under Regulation 5.1.1 of the CDC Regulations, marks a significant step in integrating these shares into the CDS.

According to information available from the Pakistan Stock Exchange (PSX), the inclusion of Mughal Iron and Steel's unlisted shares into the CDS is designed to enhance the efficiency and transparency of trading these securities. By becoming CDS-eligible, the shares will benefit from streamlined settlement processes and improved accessibility for investors. The move is expected to facilitate better management of these securities through electronic book-entry systems.

The Central Depository Company, which plays a pivotal role in the administration of securities in Pakistan, aims to provide a secure and reliable infrastructure for the safe handling and transfer of securities. The inclusion of Mughal Iron and Steel's Class C shares reflects the company's ongoing efforts to expand the range of securities available within the depository system and to promote market development in the country.