Karachi: First Paramount Modaraba has announced a 50% right issue at a price of PKR 10 per certificate, according to a report dated August 13, 2026. The right issue will follow the procedures set by the Central Depository Company (CDC) and Pakistan Stock Exchange (PSX).

The issuance process will include a new online payment facility introduced by the CDC through 1Link, allowing Investor Account Holders to make payments via internet banking, ATM, or mobile banking. According to information available from the Pakistan Stock Exchange (PSX), this initiative aims to streamline the investment process for certificate holders.

The schedule for the right issue is as follows: the book closure will occur on August 17, 2026, for a single day. The unpaid rights will be credited into the CDC in book entry form on August 18, 2026. Letters of Right (LOR) will be dispatched to physical certificate holders on August 20, 2026, which is also the date for intimation to the PSX regarding the dispatch or credit of LORs.

Trading of unpaid rights will commence on the PSX on August 19, 2026, and will continue until September 2, 2026. The final date for acceptance and payment of certificates, both in CDC and in physical form, is set for September 9, 2026. The allotment of certificates and the credit of book entry into the CDC will take place on September 23, 2026, which is also the date for dispatching physical share certificates.

Meezan Bank Limited will facilitate the payment process through cash, crossed cheque, demand draft, or pay order directed to "First Paramount Modaraba - Right Certificates Subscription" across its branches in Pakistan. The process allows physical certificate holders to renounce their Letter of Rights by depositing them into their own CDS Investor or sub-account, thereby offering flexibility in managing their investments.