Pak Suzuki Officially Decides to Delist From PSX

Pak Suzuki Motor Company (PSMC) has officially decided to delist from the Pakistan Stock Exchange (PSX).

In a Board of Directors (BoD) meeting, the company has decided to purchase all outstanding shares and delist from the Pakistan Stock Exchange (PSX).

PSMC will submit a formal application to the PSX for Suzuki Motor Corporation. “Our majority shareholder has been authorized to buy back ordinary shares held by the minority shareholders for an extent and a price to be determined according to regulations,” the company’s notice read.

Suzuki Motor Corporation will obtain full ownership of Pak Suzuki Motor Company (PSMC) by purchasing outstanding shares and security held by other shareholders.

PSMC’s Reasons For Delisting From PSX

• PSMC operations resulted in losses in 2019, 2020, and 2022, while it has also resulted in losses up to the 3rd quarter of this year.
• Dividends have not been paid to shareholders since 2019, except for 2021.
• The current share price of PSMC has fallen to historical low and number of daily transactions are limited.

Read more: Car Sales See 10% Increase in September.

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