Karachi January 15 2024: Pakistan Stock Exchange Voluntary Delisting Committee increases valuation of Pakistan Suzuki Motors Limited by 50 percent to USD 180 million, according to notice issued by the exchange.
However, this value is 21 percent lower than the today closing price of the stock at Pakistan Stock Exchange.
Voluntary delisting application for Pak Suzuki Motor Company Limited (PSMC) was considered by the Voluntary Delisting Committee (VDC) of Pakistan Stock Exchange today.
The VDC held detailed discussion with the representatives of the Sponsor and after taking into account all relevant aspects under discussion under the applicable regulations, the committee decided to determine the minimum buyback price of PKR 609/ per share against the offer price of the Sponsor of PKR 406/ per share.
The Sponsor of PSMC is required to convey the acceptance to the purchase price determined by the Exchange within 10 days under the regulations. The voluntary delisting of the company is subject to receipt of acceptance from the Sponsor and fulfillment of relevant requirements by the Company.
