In a notification sent to the PSX on 15/01/2024, the Voluntary Delisting Committee of the PSX announced that it had determined the minimum PSMC buyback price to be Rs. 609. Pakistan Suzuki Motors Company (PSMC) had initially offered a buyback price of Rs. 406.
PSMC has 10 days to respond to this announcement. If it accepts the determined price, then shareholders of the company can expect to receive at least Rs. 609 per share.
However, in case the company rejects this assessment, it has the option of withdrawing its initial delisting notice. Were that to happen, the stock price is likely to crash to the pre-delisting price of around Rs. 150. Considering this risk, and its current price of Rs. 774.61 at close today, it is unlikely that shareholders can benefit from buying the stock currently. We already covered that price arbitrage at this point is too risky with minimal upside.
The price should settle somewhere below Rs. 600 in the next few days.
On 20-02-2025, Lotte Chemical Pakistan Limited (LOTCHEM) disclosed the following material information.
On the monthly time frame, Netsol has a history of boom and bust cycles
OIL & GAS EXPLORATION COMPANIES (OGDC) have made good corrections but it is still in…
The Board of Directors of Lotte Chemical Corporation, South Korea (LCC Korea), the majority (75.01%)…
After the completion of the expected life of the furnace, Ghani Global Glass Limited (GGGL)…
Pakistan State Oil (PSO) is trying to sustain above 300 level.
View Comments