CDC allows submission of Right Subscription Requests of Unpaid LoRs for IAS clients through IVR, Web, Email and Fax
In its continuous strive to facilitate efficient processing of all corporate actions through CDS electronically; CDC recently implemented the functionality for induction of Unpaid Letter of Rights into CDS. Handling of Unpaid LoRs through CDS helps investors to conveniently subscribe as well as transfer Unpaid LoRs for the purpose of trading.
Keeping in mind that investors are located across Pakistan as well as abroad and realizing their need for easy accessibility, CDC has decided to allow submission of Right Subscription Requests for Investor Account Holders through CDC access – IVR, CDC access – Web, Email and Fax. Therefore, IAS Account Holders, registered to use CDC access – IVR [0800-23275 (CDCPL)] or CDC access – Web facilities can now notify their subscription requests through these channels as well. Similarly, to avail this facility through email (email@example.com), IAS Account Holders have to use their registered email address with CDC. Moreover, IAS Account Holders can also convey their requests through fax numbers of respective CDC office.
Introduced earlier to provide up-to-date information and timely response to CDC clients against their queries, these channels will now also facilitate the investors in terms of convenience, speed, efficiency and productivity. The decision comes at a time when a number of organizations are issuing their unpaid rights for subscription and the shareholders will therefore be further facilitated while subscribing to the right issue by making subscription requests conveniently through any of these channels, saving time and hassle.