KARACHI, PAKISTAN: Pakistan Stock Exchange (PSX) had implemented the new trading system (NTS), which was procured from the Shenzhen Stock Exchange (SZSE), China, and went live on Monday, October 25, 2021. Given several glitches, PSX, in consultation with brokers and regulator, is reverting to the previous system (KATS) as a short term measure to provide…
Category: PSX
Corporate announcements on Pakistan Stock Exchange (PSX)
Pakistan Petroleum seeks two mining licenses in Baluchistan
KARACHI: Pakistan Petroleum Limited (PPL) has submitted an Expression of Interest (EoI) for acquiring mining rights in two blocks in Balochistan, a province of Pakistan, which shares borders with Iran and Afghanistan. Pakistan Petroleum Limited (PPL) is pursuing a diversification strategy to keep its revenue streams flowing given depleting gas reserves, and no new significant discoveries in…
PIA receives delivery of A320 aircraft
KARACHI: Pakistan International Airlines (PIA) has received delivery of the second A320 aircraft acquired on dry lease. The A320 aircraft reached Islamabad airport from Paris. CEO PIA, Air Marshal Arshad Malik congratulated the airline officials on the induction of the aircraft. He said that new version of fuel efficient aircraft will further improve PIA service….
Archroma Pakistan declares force majeure due to raw material shortage
KARACHI: Archroma Pakistan has declared force majeure effective Thursday due to inability to manufacture and supply goods as the company’s raw material supply lines have choked. “Archroma’s raw materials and petrochemicals supplies coming from China are getting adversely affected by the ongoing ‘energy consumption controlling measures’ and ‘environmental checks’, coupled with disrupted global supply chain…
PLL’s LNG tender for 8 cargoes receives zero bids
KARACHI, PAKISTAN: These winters are going to be even colder primarily due to severe gas shortage, while the LNG tender issued by Pakistan LNG Limited (PLL) for 08 cargoes for December and January received not one bid by the suppliers. PLL had invited bids for supply of eight cargoes of the liquefied natural gas (LNG)…
Air Link plans Rs500 million mobile manufacturing subsidiary
KARACHI: Air Link Communication is planning to incorporate a wholly owned subsidiary, Select Technologies (Pvt) Ltd, to take on additional mobile manufacturing of specific brands with an investment of Rs.500 million. For this purpose, Air Link Communication is increasing share capital of the company from Rs.4.0 billion dividends into 400 million shares Rs.10 each to…
SNB plans divestment of Samba Bank Pakistan
KARACHI: Saudi National Bank (SNB) has approved the commencement of an orderly well managed divestment of Samba Bank Limited (SBL) Pakistan. According to a bourse filing, Samba Bank has received formal communication from SNB that approved a strategic review of its option in respect of SBL. SNB has advised Samba on engagement with the regulators…
Ghani Global to sell Ghani Chemical Industries shares in IPO
KARACHI, PAKISTAN: Ghani Global Group will sell around 50 per cent shares in its subsidiary Ghani Chemical Industries Limited (GCIL) through an initial public offering (IPO) at Pakistan Stock Exchange (PSX), to fund Rs8.5 billion ($49.7 million) expansion. The Board of Directors of Ghani Chemical Industries Limited, one of the subsidiary companies and the largest…
Citi Pharma plans $3.0 million subsidiary in Central Asia
KARACHI, PAKISTAN: Citi Pharma Limited will establish a wholly owned subsidiary in Uzbekistan with a total estimated cost of $3.0 million, a news release said. Pakistan is catalyzing the stability in Afghanistan to grow trade and investment relations and promote business to business contacts with the business and trading communities of Central Asia. The proposed…
Engro Enfrashare signs Rs4.5bn financing to develop mobile towers
KARACHI: Engro Enfrashare, a wholly owned subsidiary of Engro Corporation, has entered into an Islamic syndicate arrangement amounting to Rs4.5 billion, led by Meezan Bank and Faysal Bank. The proceeds raised through this Islamic syndication would be utilized to finance the development of tower sites for various mobile network operators (MNOs) operating in Pakistan. As…
PTCL and Ufone joins hands with NOWPDP for Justuju Internship Program
KARACHI: Pakistan Telecommunication Company Limited (PTCL) and Ufone signed MoU to launch 2nd batch of Justuju Internship Program in collaboration with Network of Organizations Working with Persons with Disabilities Pakistan (NOWPDP). Justuju includes a structured professional development plan for PWDs, focusing on training and enabling them to be part of the country’s mainstream socio-economic system….
PTCL to equip The City School with premium ICT services
KARACHI, PAKISTAN: Pakistan Telecommunications Company Limited (PTCL), signed a Memorandum of Understanding (MoU) with The City School to offer premium ICT services including telephone and high-speed internet to the students, alumni and staff members of the institution. PTCL will offer exclusive discounted packages with unlimited data to facilitate effective teaching and learning at one of…