Philip Morris Pakistan moves to voluntary de-listing

KARACHI, Sept 30: Philip Morris (Pakistan) Limited has notified the Pakistan Stock Exchange (PSX) of its decision to voluntarily de-list following a strategic share buyback.

In a communication to the PSX Chief Listing Officer, the company said its sponsors, Philip Morris Investments B.V. and Philip Morris Brands SARL, now hold 98% of its shares.

Minority shareholders retain 2% of the equity.

The company also provided a breakdown of shareholding before, during, and after the buyback program, showing consolidation of ownership ahead of the de-listing decision.