Industrial Development Bank Limited IDBL Karachi Tender Notice

Industrial Development Bank Limited
INVITATION OF BIDS
FOR SALE OF TRADING RIGHT ENTITLEMENT CERTIFICATE (TREC) AND SHARES OF ISLAMABAD STOCK EXCHANGE LIMITED Industrial Development Bank Limited (1DBL) invites bids from private and public companies for the sale of one Trading Right Entitlement Certificate (TREC). The prospective purchaser of TREC should fulfill the fit and proper criteria for the Brokers as specified by the Securities & Exchange Commission of Pakistan (SECP) and the relevant provisions of the Stock Exchanges (Corporatization, Demutualization and Integration) Act 2012 and the Regulations framed thereunder which shall also be applicable in relation to transfer of TREC in the name of successful bidder. The said laws can be accessed on the following URL: www.ise.com.pk and www.secp.gov.pk In addition to the above, 1DBL also invites bids from interested parties which may include (i) Private or Public Limited Companies (ii) Individuals: 1. for the purchase of =1,213,841= shares of Islamabad Stock Exchange Limited (having face value of Rs.10/- each). 2. for the purchase of assignment of =1,820,762= shares of ISE (having face value of Rs.10/- each held in CDC blocked account under the custody of ISE, to be sold later to strategic investor/general public in accordance with the relevant laws. The bids may be sent under sealed envelope marked as "Bid for TREC and/or Shares of Islamabad Stock Exchange Limited" addressed to the undersigned. Bids should reach IDBL latest by 20th March, 2014 upto 3:00 pm alongwith Pay order equivalent to 5% of the bid amount as advance payment. The pay order must be drawn in favour of Industrial Development Bank Limited. In case of non-acceptance of the bid, such amount would be refunded. The bids will be opened on 20th March, 2014 at 3:30 pm in the presence of bidders. The acceptance of bid will be subjected to approval of Board of Directors of IDBL. The successful bidder(s) will have to pay 20% of the bid amount within 30 days and the balance 75% within 90 working days from the date of approval of the bid, failing which the advance payment will be forfeited by the !DBL. The Bank reserves the right to accept any or reject all bids without assigning any reason. Interested parties may visit the office of the undersigned on any working day upto 19th March, 2014 between 9:30 am to 5:00 pm for seeking further details, if desired. SAD1QUL HUDA M. NAEEM KHAL1D Senior Vice President Assistant Vice President Ph:021-99213601-10 Ph:99213601-10 021-99213624 021-99213652 Industrial Development Bank Limited, Head Office, 3rd Floor, State Life Building No.2, Wallace Road, Off. 1.1. Chundrigar Road, Karachi.