Nadeem Nisar sells 5bn worth PSMC as the company successfully delists

In a notification sent to the PSX on 24/04/2024, Pak Suzuki Motor Company Limited (PSMC) reported a transaction by the substantial shareholder Nadeem Nisar, who owned more than 10% shares of the company.

He sold a total of 8,294,916 shares of the company for Rs. 609.00 per share. The total amount for this transaction stands at Rs. 5,051,603,844.

Nadeem Nisar had acquired more than 10% shareholding in the company after PSMC announced delisting. When the company had settled on a delisting price of Rs. 609 per share, Nadeem still held 10% stake in the company. Many were speculating that this would lead to a revised delisting price. However, with the current notification, it now becomes clear that he has also sold his stake to the company at a price of Rs. 609 per share.

The shares of PSMC were last trading at Rs. 609.00 today.