Karachi, April 21, 2025 – Philip Morris (Pakistan) Limited has issued a formal response to the Pakistan Stock Exchange (PSX), denying any unusual or unexplained movement in the trading price or volume of its shares. The clarification came after PSX issued a notice regarding significant fluctuations observed in the company’s stock over recent sessions.
In its reply, Philip Morris stated that the movement in its share price could be attributed to previously disclosed information. The company clarified that on March 25, 2025, the board of directors approved a resolution to delist Philip Morris (Pakistan) Limited from the PSX. The following day, on March 26, the company formally notified the stock exchange regarding this significant development.
Philip Morris emphasized that aside from the delisting decision, there is no undisclosed material or price-sensitive information that could have impacted the trading activity. “All relevant details have already been made public,” the company said in its official statement, reaffirming its commitment to transparency and compliance with regulatory requirements.
The PSX, citing Section 97 of the Securities Act, 2015, and clause 5.6.3 of its regulations, had requested Philip Morris to explain the recent unusual activity in its stock. These provisions require listed companies to promptly disclose any significant events or developments that may affect the market behavior of their shares.
In its communication, the PSX highlighted that a noticeable shift in Philip Morris’s share price and volume had triggered the regulatory review. The exchange reiterated that if a company is unaware of any cause behind such movement, it must explicitly state so to maintain investor confidence and uphold market integrity.
Philip Morris responded accordingly, assuring that it had already disclosed all pertinent information through the Pakistan Unified Corporate Action Reporting System (PUCARS). The company reiterated its stance that no further material event exists which could justify the trading anomalies noted by the exchange.
As Philip Morris moves toward delisting from the PSX, market participants are closely watching the stock for further developments. The company’s response aims to settle any speculation and reassure stakeholders of its adherence to regulatory norms and timely disclosures. This marks another critical step as Philip Morris transitions its presence in Pakistan’s capital market.