The Pakistan Stock Exchange (PSX) has moved Aruj Industries Limited (ARUJ), Siddiqsons Tin Plate Limited (STPL), and Saritow Spinning Mills Limited (SSML) to its defaulter’s segment, effective December 5, 2024. This action comes as a result of non-compliance with PSX regulations, which typically includes failure to meet financial disclosure requirements, hold mandatory shareholder meetings, or maintain adequate operational standards.
Following this shift, these companies have also been delisted from the Security Lending and Borrowing (SLB), Margin Financing (MF), and Margin Trading Systems (MTS) under relevant clauses of the National Clearing Company of Pakistan Limited (NCCPL) Regulations, 2015.
The delisting from these trading facilities restricts investors from leveraging these stocks for margin financing or short-term borrowing. Even if a company addresses its compliance issues, trading restrictions will remain in place until the PSX formally removes the defaulter status.
Aruj Industries Limited (ARUJ) is a textile manufacturer known for producing blended and synthetic fabrics. Siddiqsons Tin Plate Limited (STPL) is one of Pakistan’s key producers of tinplate, primarily used in the packaging industry. Saritow Spinning Mills Limited (SSML) is a part of the Saigol Group, SSML specializes in the production of yarn for both local and export markets.
