Karachi: First Elite Capital Modaraba (FECM) has reported an unusual movement in the price of its certificates, with no specific reasons identified for the surge. The development follows a series of transactions by key stakeholders, as confirmed in correspondence dated June 17, 2025.

The price increase, which falls into the category of a very large or significant move, is ostensibly linked to the recent acquisition of 191,209 certificates by Mr. Nauman Rathore, a certificate holder of the Modaraba. These purchases occurred over a period starting from May 12, 2025, through June 18, 2025. The transactions were previously disclosed via PUCARS in communications dated May 13, 2025, June 5, 2025, June 10, 2025, and June 13, 2025.

Additionally, Non-Executive Directors Mr. Muhammad Javed Amin and Mrs. Shahana Javed Amin executed sales of 63,470 and 19,000 certificates, respectively. These sales were also communicated through PUCARS in earlier disclosures.

According to information available from the Pakistan Stock Exchange (PSX), these activities have contributed to the noticeable movements in certificate prices, prompting attention from market participants and stakeholders within the designated market category. The transactions by prominent stakeholders and the resulting market dynamics continue to be observed closely.