Karachi: The Pakistan Stock Exchange has announced the delisting of the preference shares of Pak Elektron Limited (PELPS) following their conversion into ordinary shares. This change is set to take effect on Tuesday, April 29, 2025.

The conversion process involved the issuance of 67,637,346 ordinary shares to the preference shareholders of Pak Elektron Limited (PAEL). These ordinary shares were issued in exchange for 44,957,592 preference shares, along with the accumulated preference dividend up to December 31, 2024.

According to information available from the Pakistan Stock Exchange (PSX), the fulfillment of relevant requirements enabled the transition, resulting in the delisting of PELPS from the exchange. This development is part of the designated market category for equity securities.

The conversion and subsequent delisting mark a significant transition for Pak Elektron Limited as it adjusts its capital structure and shareholding composition.