Karachi: Trust Securities & Brokerage Limited is gearing up for its Annual General Meeting on October 26, 2026, where shareholders will deliberate on several significant proposals, including a substantial increase in authorized share capital and new ventures in virtual asset services and special purpose acquisition companies.
The company intends to raise its authorized share capital from Rs. 750.00 million to Rs. 1.00 billion, divided into 1 billion ordinary shares of Re. 1 each. This proposal, recommended by the Board of Directors, will necessitate amendments to both the Memorandum and Articles of Association to reflect the changes. The resolution emphasizes that the new shares will carry equal voting rights and rank pari passu with existing shares, in accordance with the Companies Act, 2017.
In a move to expand into the emerging fintech sector, Trust Securities & Brokerage Limited is seeking approval to apply for a No-Objection Certificate (NOC) as a Virtual Asset Service Provider (VASP) from the Pakistan Virtual Assets Regulatory Authority (PVARA). This strategic entry into virtual asset services aims to encompass a wide range of offerings, including brokerage services, custody services, and token issuance services. The Board of Directors will have the authority to finalize the scope and structure of these services, ensuring compliance with PVARA and other regulatory requirements.
Additionally, the company plans to establish a Special Purpose Acquisition Company (SPAC), subject to regulatory approvals. This SPAC will be a public limited company designed to raise funds through a public offering, with the aim of executing mergers, acquisitions, or other business combinations. The Board of Directors will be instrumental in determining the structure, shareholding, and capital contribution of the SPAC, aligning with the Securities and Exchange Commission of Pakistan (SECP) and Public Offering Regulations, 2017.
Trust Securities & Brokerage Limited’s AGM is anticipated to be a pivotal event, as these proposals could significantly reshape the company’s strategic direction and operational capabilities. According to information available from the Pakistan Stock Exchange (PSX), the outcomes of this meeting will be closely monitored by stakeholders and investors, given the potential impacts on the firm’s market position and future growth prospects.