Pak Suzuki buyback price fixed at Rs609

The Volun­tary Delisting Committee (VDC) of the Pakistan Stock Exchange (PSX) has determined a minimum buyback price of Rs609 per share as against Rs406 offered by Pak Suzuki Motor Company Ltd (PSMCL) for delisting. PSX in its announcement said that the voluntary delisting application of the PSMCL was considered on Monday. The committee had determined the minimum buyback price after detailed discussions with the representatives of the sponsor and after taking into account all relevant aspects under the applicable regulations. The sponsor of PSMCL is required to convey its acceptance of the purchase price determined by the PSX committee within 10 days. The voluntary delisting of the company is subject to receipt of acceptance from the sponsor and fulfilment of relevant requirements by the company. On Oct 19, 2023, PSMC informed that the board had approved the purchase of all outstanding shares of PSMC held by minority shareholders and delisting under rule 5.14 of the listing regulation.