Karachi: In a strategic move aimed at fortifying its financial standing, Ghani ChemWorld Limited is set to launch its Partially Redeemable Shares (PRS) on the main board of the Pakistan Stock Exchange (PSX) on Monday, August 24, 2026. This development marks a significant milestone for the company as it seeks to leverage the capital markets for enhanced financial flexibility.
According to information available from the Pakistan Stock Exchange (PSX), the trading of the PRS will be settled on a T + 1 basis, with the first settlement date scheduled for Tuesday, August 25, 2026. The shares will be introduced at an opening price of PKR 100 per share, which also represents their issue, offer, and par value. The introduction of normal circuit breakers will regulate price fluctuations for the shares in the ready market.
The shares, identified by the security symbol "GCWLPRS", are ready for trading, having been declared an eligible security by the Central Depository Company of Pakistan Limited (CDC). Transactions will be settled via the National Clearing Company of Pakistan Limited (NCCPL). The designated market category for these shares is the main board of the PSX, highlighting the prominence of this listing within the exchange's framework.
Ghani ChemWorld Limited's PRS offers a unique structure, combining elements of both equity and debt. The shares are partially redeemable, with PKR 90 per share constituting the redeemable portion. Redemption will occur at the discretion of the company's Board of Directors, contingent upon the availability of distributable profits and retained earnings. Meanwhile, the irredeemable portion is valued at PKR 10 per share.
The PRS is designed to automatically convert into ordinary shares upon the occurrence of certain triggering events, as stipulated in the terms approved by the shareholders during the extraordinary general meeting on May 2, 2026. Each PRS will convert into five fully paid ordinary shares, with the possibility of an enhanced conversion ratio subject to board discretion and compliance with applicable laws.
The shares are perpetual in nature, though mandatory conversion of the redeemable portion into ordinary shares is required within a maximum period of ten years from issuance. The share registrar managing the transaction is M/s Digital Custodian Company Limited, based in Karachi.
This innovative financial instrument reflects Ghani ChemWorld Limited's strategic intent to optimize its capital structure while providing shareholders with potential avenues for value appreciation. The company's move is expected to attract investors seeking a blend of stability and the potential for capital gains in the evolving market landscape.