Pak Suzuki Decides to Delist
Pak Suzuki Motor Company (PSMC) has officially announced its decision to withdraw its shares from the Pakistan Stock Exchange (PSX) market.
The company plans to buy back all shares from small shareholders, with 26.91% or 22,145,760 shares available at the price of Rs 406 per share.
Arif Habib Limited has been appointed agent for this share buyback. Pak Suzuki claimed that it has been operating at a loss for the past three years.
Additionally, the company recently announced the temporary closure of its production facility due to a shortage of essential raw materials.
Pak Suzuki Motor Company (PSMC) has officially announced its decision to delist its stock from the Pakistan Stock Exchange (PSX) market.— Newsment (@newsmentpk) December 5, 2023
In a statement, the company mentioned its plan to buy back all shares from small stakeholders.#Pak #Suzuki #Delist #PSX #Pakistan #Stock pic.twitter.com/VAaWCgRt2Y