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SECP pursues action over SE Fruits disclosures, seeks stronger audit oversight
The Securities and Exchange Commission of Pakistan (SECP) said on Friday it was initiating regulatory action over “material discrepancies” in the Initial Public Offering (IPO) prospectus of SE Fruits and Vegetable Limited, which the Commission said was based on information provided in the company’s audited financial statements. Last month, SE Fruits and Vegetable Limited, a fresh fruit and vegetable company, secured approval from the SECP for the issuance, circulation and publication of its prospectus for an IPO of 30 million ordinary shares. SECP later suspended further proceedings subsequent...
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