Gillette Pakistan Limited has formally applied for voluntary delisting from the Pakistan Stock Exchange (PSX), as the company prepares to wind down its local manufacturing and commercial operations and transition to a third-party distributor model.
In a letter to the PSX, Gillette Pakistan stated that the decision follows the global strategy of its parent company, Procter & Gamble (P&G), to accelerate growth and value creation by shifting business models in select markets.
As a result, the company will cease its local operations, making continued listing on the PSX no longer aligned with P&G’s global business direction.
Currently, P&G, through its subsidiary SABV, holds approximately 91.72% of Gillette Pakistan’s shares. SABV, as the majority shareholder, will undertake the buyback of shares from minority shareholders, representing about 8.28% of the company’s paid-up capital, or 2,638,059 shares, at a minimum price of Rs. 216.49 per share.
Arif Habib Limited has been appointed as the purchase agent for the buyback process.
Gillette Pakistan’s authorized share capital stands at Rs. 400 million, divided into 40 million ordinary shares of Rs. 10 each, with 31,872,000 shares currently issued and fully paid up.
The company stated that the move is part of a broader global restructuring by P&G and assured that Pakistani consumers will continue to be served through regional operations and third-party distribution.
The PSX has been requested to process the delisting application and facilitate the purchase of shares from minority shareholders.
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