Pak Suzuki Motor Company (PSMC)
In a recent announcement, Pak Suzuki Motor Company (PSMC) has made a significant decision to remove its stock from the Pakistan Stock Exchange (PSX) market. The company’s statement indicates its intention to repurchase all shares currently held by small stakeholders. Pak Suzuki has specified that approximately 26.91 percent of its shares, which amounts to 22,145,760 shares, are currently available on the stock market, with each share priced at Rs 406.
To facilitate this share buyback process, Pak Suzuki has enlisted the services of Arif Habib Limited as its agent. This decision to delist from the stock exchange reflects Pak Suzuki’s acknowledgment of operating at a loss for the past three years. The company has faced various challenges recently, including production shutdowns caused by shortages of essential raw materials.
This development will undoubtedly have implications for both the company and its shareholders. As Pak Suzuki takes steps to address its financial situation and navigate the volatile market conditions, stakeholders will closely monitor the progress of the share buyback process and the potential impact on the company’s future prospects.
The decision to delist from the stock market is a strategic move that aligns with Pak Suzuki’s efforts to address its financial challenges and chart a path towards sustainable growth and profitability. It remains to be seen how this decision will unfold and its ultimate impact on the company’s operations and position in the automotive industry in Pakistan.