Karachi, April 18, 2025 – The Pakistan Stock Exchange (PSX) has formally issued a notice to Philip Morris (Pakistan) Limited, seeking clarification regarding an unusual movement observed in the company’s share price over the recent trading sessions.
In an official communication, the PSX referred to Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations, which obligate all listed companies to promptly disclose any material development or clarification if there is a noticeable fluctuation in the price or volume of their traded securities. The PSX emphasized that it had detected significant irregularities in the trading pattern of Philip Morris shares during the preceding days, prompting the regulatory intervention.
According to the notice, Philip Morris is required to publicly disclose either (i) any material event or development that may have influenced the unusual price behavior, or (ii) affirm that it is unaware of any such development. In either case, the response must be made available to the public to ensure transparency and market confidence.
The PSX reiterated that under Regulation 5.6.1, any price-sensitive or material information that could impact share price or trading volume must be immediately shared via the Pakistan Unified Corporate Action Reporting System (PUCARS). The goal is to ensure timely dissemination of key information to investors and the public.
Philip Morris has been advised to act without delay and provide any relevant information or confirm the absence of such events through the prescribed disclosure channels. The PSX has highlighted the importance of regulatory compliance to uphold market integrity and protect investor interests.
This is the fifth time in recent months that the PSX has flagged a company for unexplained market activity, underscoring the exchange’s growing focus on transparency and corporate governance.
Market watchers will now be closely monitoring Philip Morris for its official response and any subsequent market impact. Investors are advised to stay informed as developments unfold, particularly with regard to the company’s clarification on the observed share price volatility.