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The Pakistan Stock Exchange (PSX) has accepted the request for Voluntary Delisting of Pak Suzuki Motor Company Limited, a move that has significant implications for shareholders and investors alike.
In an official notice, the PSX stated that it has decided to delist the Company from the Exchange with effect from Friday, April 26, 2024, in compliance with PSX Regulation No.5.14 and Section 19(5) of the Securities Act 2015.
Read Also: Pak Suzuki New Exchange Deal: ‘Purani do, Nai Lo’
Furthermore, the notice advised shareholders of the Company interested in the buy-back of shares by the Sponsors to approach Arif Habib Limited, the designated Purchase Agent.
It was further emphasized that both the Purchase Agent and Sponsor of the Company have already submitted an Undertaking to purchase the remaining shares held by minority shareholders at a price of Rs. 609 per share. This offer is valid up to April 22, 2025.
Notably, Pak Suzuki had initially submitted a formal request to delist from the Pakistan Stock Exchange back in December 2023. This strategic move signals a significant development in the realm of stock market dynamics in Pakistan.