Shield Corporation Limited has submitted an application to voluntarily delist from the Pakistan Stock Exchange (PSX), according to a formal request filed under PSX Rule 5.14. The company stated that the decision was made due to low liquidity, with an average daily trading volume of approximately 923 shares over the last year, and a history of financial losses in the last two years. Additionally, the company highlighted the fact that dividends had not been paid to shareholders since 2021.
Shield Corporation also outlined that the delisting would reduce operational complexity and allow the management to focus more on the core business. The company is also seeking to purchase shares from its minority shareholders as part of this process.
In the application, the company confirmed that it is registered at 1007, 10th Floor, Business Avenue, Block 6, P.E.C.H.S., Karachi, and has an authorized share capital of PKR 150 million. Shield Corporation is requesting approval from the PSX to proceed with the delisting and the buyback of shares from minority stakeholders.
This move follows a pattern of other companies opting to delist from the exchange due to similar challenges related to liquidity and profitability.
