flashcards_publication_prospectus
When must the prospectus be published in newspapers for a public offer in Pakistan?
The prospectus must be published not less than 7 days and not more than 30 days before the commencement of public subscription.
In which newspapers must the prospectus be published?
At least one Urdu and one English daily newspaper.
What is the time frame for publishing a prospectus before the commencement of public subscription?
Not less than 7 days and not more than 30 days before the commencement of public subscription.
Where must copies of the prospectus be made available, free of charge?
Registered office of the issuer, all securities exchanges, all bankers to the issue, concerned share registrar, balloter, and credit rating agency (if any).
Until when must the prospectus be available on the issuer’s website?
From the date of publication in newspapers until the closing of the subscription.
Can a company advertise a public offer of securities without publishing a prospectus?
No, a company cannot advertise a public offer without publishing a prospectus.
What condition must be fulfilled for advertisements announcing a public offer?
The advertisement must provide an address in Pakistan where the prospectus can be obtained.
Can the terms of a prospectus be varied without approval?
No, the terms cannot be varied without the approval of the Commission.
When must the issuer file a copy of the prospectus with the Registrar?
On or before the date of publication.
Who must sign the copy of the prospectus filed with the Registrar?
Every person named as a director or proposed director of the company.
What is the penalty level for failing to file the prospectus?
Level 2.
What must a prospectus contain for approval by the Commission?
Information and reports as prescribed by the Commission’s regulations.
Which regulations outline the required contents of a prospectus?
The Public Offering Regulations, 2017.
Why are companies required to list risk factors in a prospectus?
To highlight potential risks for investors and ensure informed investment decisions.
What is the specific advice given to readers regarding risk factors in a prospectus?
Carefully review the risk factors before making investment decisions.
