Karachi: In response to unusual movements in its share price, Pakistan Synthetics Limited has officially declared that no recent developments within the company have influenced market prices. This statement, issued on July 25, 2024, addresses concerns raised by the Pakistan Stock Exchange (PSX).

According to information available from the Pakistan Stock Exchange (PSX), the inquiry into the surge in share prices of Pakistan Synthetics Limited was prompted by a letter from the PSX, referencing concerns about possible undisclosed developments that could impact the market. In a formal response, Pakistan Synthetics Limited assured that it remains unaware of any factors that could have led to the recent volatility in its stock price.

The company emphasized its commitment to transparency and regulatory compliance, noting its adherence to the PSX Regulations under Clause 5.6.3, which mandates the disclosure of all price-sensitive information. Pakistan Synthetics Limited reiterated its dedication to maintaining strict compliance with all applicable regulatory frameworks to ensure that all material information affecting share prices is promptly communicated to the Exchange.