Karachi: In response to growing concerns over the recent fluctuations in its share price, Bilal Fibres Ltd (BIFL) has issued a statement to clarify its position and adherence to regulatory standards. The company addressed the concerns after an inquiry from stakeholders dated September 18, 2024, regarding the unusual movement in the price of its shares.

According to information available from the Pakistan Stock Exchange (PSX), Bilal Fibres confirmed that there has been no undisclosed material or price-sensitive information that could have led to the recent volatility in its stock price. The company has strictly complied with PSX Regulation 5.6.3, which mandates the disclosure of any information that could significantly influence the company's share price.

The management clarified that neither company directors nor their relatives are involved in trading the company’s shares. They attributed the price movements to market dynamics such as index adjustments, which are beyond the company’s control. Bilal Fibres stressed its commitment to regulatory compliance and transparency in all its dealings to ensure that market participants are well-informed.

The company reassured its shareholders and stakeholders of its ongoing dedication to upholding high standards of transparency. Bilal Fibres’ management remains steadfast in its promise to disclose any material developments that could impact investment decisions in a timely and accurate manner.

For further inquiries or additional information, Bilal Fibres Ltd has invited direct contact from its stakeholders, emphasizing its openness and responsiveness to shareholder concerns.