Karachi: The Pakistan Stock Exchange (PSX) has announced the continued suspension of trading in the shares of three companies—Shaffi Chemical Industries Limited, Standard Insurance Company Ltd, and Mohib Exports Ltd—citing unresolved regulatory defaults. This decision, outlined in PSX Notices No. PSX/N-262 and PSX/N-263 dated March 11, 2025, will extend the trading suspension for another 60 days starting May 11, 2025, unless the companies rectify their deficiencies.
According to the PSX, Shaffi Chemical Industries Limited has halted its commercial production and business operations in its principal line of business. Additionally, the company has not cleared dues owed to the Exchange, and a winding-up petition has been filed against it by the Securities and Exchange Commission of Pakistan (SECP) in court.
The Standard Insurance Company Ltd faces a more extensive list of regulatory violations. The company has also stopped its main business operations and failed to convene its Annual General Meetings. It has not submitted its annual audited accounts and has not inducted its ordinary shares into the Central Depository System (CDS). Furthermore, the statutory auditor has issued a disclaimer of opinion in the audit report, and a winding-up petition has been lodged by the SECP.
Mohib Exports Ltd has similarly failed to hold its Annual General Meetings and submit its annual audited accounts. The company has also defaulted on payments due to the Exchange, neglected to induct its ordinary shares into CDS, and faces a winding-up petition by the SECP.
According to information available from the Pakistan Stock Exchange (PSX), these companies have not yet addressed the causes of their trading suspensions. The PSX has exercised its authority under Sub-Section (7) of Section 19 of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations to maintain the suspension.
The designated market category affected by these suspensions continues to be monitored closely by the PSX, pending any resolutions by the involved companies.