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Pakistan allows foreign investors to buy shares in local bourse

Pakistan's securities regulator amended rules to allow foreign investors to invest in Pakistan Stock Exchange Ltd. shares, starting Dec. 26.

The Securities and Exchange Commission of Pakistan on Dec. 21 said it allowed foreign investors, other than strategic investors, to hold up to 10% of the PSX shares. The regulator further said that if it found appropriate, it can expand the limit to 20%.

In June, Pakistan Stock Exchange raised 4.49 billion rupees in its IPO. Earlier, the bourse in December 2016 sold a 40% stake to a consortium led by Chinese investors at 28 rupees per share.

As of Dec. 21, US$1 was equivalent to 110.47 Pakistani rupees.