SECP urged to disclose names behind Hum Network’s share price hike
KARACHI: A number of disgruntled investors are seeking to reach-out to Securities and Exchange Commission (SECP) in order to conduct an impartial enquiry into a swift change in the shareholding pattern of Hum Network, brokers of Pakistan Stock Exchange (PSX) said.
The price of Hum Network Share was at Rs 2.18 during the month of April 2020 and within two months it peaked at to Rs 17.
During this period, a lot of investors regretted selling their stakes at a throw away price. The Annual General Meeting of Hum Network is expected during the month of August 2020. It is expected that the management of the company shall be changed.
The investors have demanded that SECP should publish the names of corporate entities and individuals who have speculated this stock.
One Investor, who has asked his lawyer to file petition in the Supreme Court of Pakistan, has asked the front and apex line regulator to also make public names of those major companies which in their corporate and individual capacities were holding Hum Network Stock at the end of Month in April and on July 15, 2020.
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