Karachi: The Shaheen Insurance Company Limited (SHNI) has responded to a letter from the Pakistan Stock Exchange (PSX), addressing an observed unusual movement in the price of its shares. According to the announcement made on July 27, 2026, the company seeks to clarify its stance in compliance with Section 97 of the Securities Act, 2015, and Clause 5.6.3 of the PSX Regulations.

Shaheen Insurance, after conducting necessary inquiries, stated that it is not aware of any development, material information, or price-sensitive information that could have influenced the unusual fluctuations in the price or trading volume of its shares. The company has affirmed its commitment to adhere to all applicable provisions of the Securities Act, 2015, and the PSX Regulations, ensuring timely disclosure and dissemination of any material information as mandated.

According to information available from the Pakistan Stock Exchange (PSX), unusual movements in the price of SHNI shares were identified during the preceding period. The PSX regulations necessitate listed companies to either disclose any relevant developments or confirm the absence of such information in the case of unusual trading activities.

The SHNI has reassured stakeholders that should any material or price-sensitive information emerge, it will be promptly communicated through PUCARS, in accordance with the legal and regulatory requirements. The company's response aims to satisfactorily address the PSX's inquiry while remaining open to providing further clarification if required.