Karachi: Shaheen Insurance Company Limited has responded to a letter from the Pakistan Stock Exchange (PSX) regarding unusual movements in the price and trading volume of its shares. The company, in its communication dated July 21, 2025, attributed the recent activity to the strong performance of the Pakistan Stock Exchange amidst a bullish market scenario.

According to the correspondence, the company stated it is not aware of any material or price-sensitive information that could have contributed to the observed trading fluctuations. Shaheen Insurance emphasized its commitment to regulatory compliance, highlighting its adherence to Section 97 of the Securities Act, 2015, and Clause 5.6.3 of PSX Regulations. The firm assured that it remains vigilant in fulfilling its obligations concerning the dissemination of material information.

The company's response comes as a move to clarify its position on the trading activity of its shares, a subject of interest following the PSX's inquiry. According to information available from the Pakistan Stock Exchange (PSX), the increase in share price and volume was notable, yet Shaheen Insurance maintains that it does not have any undisclosed information affecting these changes.

Shaheen Insurance reaffirmed its commitment to transparency and regulatory adherence, offering to provide further clarification if required. The company aims to ensure full compliance with all applicable requirements, thereby maintaining its integrity in the financial market.