Karachi, The Pakistan Stock Exchange has been forced to abandon its plans to acquire shares of the Central Depository Company of Pakistan Limited (CDC) from IGI Investments (Private) Limited and Allied Bank Limited.

The decision came after the Securities and Exchange Commission of Pakistan (SECP), which regulates such investments, withheld its approval for the transaction. The SECP cited non-compliance with the Central Depository (Licensing and Operations) Regulations, 2016, as the reason behind the denial of approval.