The government issued a notification stipulating a lower public shareholding requirement for companies listing on stock exchanges at the International Financial Services Centre (IFSC)-a deemed foreign jurisdiction-a move aimed at wooing firms to list there.
Shares in Australia and Japan fell more than 1% in opening trade while equity index futures for Hong Kong slipped. Drops for Japanese benchmarks reflected
IPPB was set up under the Department of Post, with 100% equity owned by the government. The department has now begun discussing how much equity
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