Pak Suzuki Motor Company (PSMC) has announced its intention to delist from the Pakistan Stock Exchange (PSX), citing high compliance costs and undervalued shares. The decision comes as the company faces various challenges, including decreased sales and high finance costs.
Pak Suzuki Motor Company has announced its intention to review and consider the majority shareholder's proposal to purchase all outstanding shares of the company and subsequently delist from the Pakistan Stock Exchange . This significant move, which falls under Rule 5.14.1 of the listing regulations, was communicated to the PSX in a formal notice.
The announcement had an immediate impact on the company's share price, with the stock hitting its upper limit during trading on the day of the announcement. Pak Suzuki has been facing various challenges, including decreased sales and high finance costs, resulting in losses of approximately Rs9.68 billion in the first six months of FY2022-23. The company had previously announced shutdowns of both its vehicle and motorcycle plants in Pakistan.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Suzuki Daska Motors terminates partnership with Pak SuzukiSuzuki Daska Motors will no longer retain the authority or privileges associated with being an authorized Suzuki dealership.
Baca lebih lajut »
PSX unveils top 25 companies awards recipients for 2022Pakistan Stock Exchange (PSX) has revealed the recipients of the Top 25 Companies Awards for 2022, recognising outstanding financial performance, exemplary governance, operational achievements, and commitment to ESG initiatives
Baca lebih lajut »
Southeast Asia considers AI regulations, contrary to EU desiresSoutheast Asian countries have widely divergent rules governing censorship and misinformation
Baca lebih lajut »
Babar Azam is 'golden hope' for World Cup triumphAs the cricket world gears up for the upcoming matches of the ICC World Cup 2023, all eyes are on Pakistan captain Babar Azam.
Baca lebih lajut »
PAK vs SL: Indian crowd roars for Pakistan in historic winIn a thrilling encounter at Hyderabad's Rajiv Gandhi International Stadium, the Pakistani cricket team.
Baca lebih lajut »