Pakistan, Nov. 8 -- The Securities and Exchange Commission of Pakistan (SECP) has sought export records from seven banks as its investigation into the proposed IPO of SE Fruits and Vegetable Limited progresses.

The banks were asked to provide export details for the company, formerly known as Shaheen Enterprises, said a news release.

The SECP also sought information from 30 banks on foreign remittances, export proceeds and other foreign exchange transactions received in accounts of the company's sponsors and directors. Some banks have responded, and their submissions are under review.

The SECP initiated the investigation on October 21 under Section 29 of the SECP Act, 1997, read with Section 139 of the Securities Act. It has received in...