Philip Morris (Pakistan) Limited has decided to delist from the Pakistan Stock Exchange (PSX) under Rule 5.14 of the PSX Voluntary Delisting Rules.
The company’s Board of Directors approved the decision in a meeting held on March 25, 2025, in Karachi. Following this resolution, Philip Morris Investments B.V., the majority shareholder and a key sponsor, has been authorized to buy back ordinary shares held by minority shareholders, except those held by Philip Morris Brands SARL.
The buyback price and extent will be determined in accordance with PSX regulations or as decided by the Securities and Exchange Commission of Pakistan (SECP). A formal application for voluntary delisting will be submitted to the PSX.
But but but but psx is rising 😆
Excellent decision. These all are the consequences of increasing laws/regulations and compliances.