by: TN Media News:
Suzuki Motor Corporation (SMC), the majority shareholder in Pak Suzuki Motor Company (PSMC), has proposed to acquire 26.91% of the paid-up capital by purchasing 22.15 million ordinary shares from minority shareholders at a minimum price of Rs406 per share.
The proposal, in accordance with regulations, led to a drop in PSMC’s share price, closing at Rs504.39 after reaching an intra-day high of Rs586.19.
PSMC revealed that SMC aims to achieve full ownership, considering the delisting of the company from the Pakistan Stock Exchange.
The move follows financial losses incurred by Pak Suzuki in recent years, prompting the sponsors to offer minority shareholders an exit opportunity.
