Karachi, Wyeth Pakistan Limited informed Pakistan Stock Exchange that the intention of Wyeth LLC USA, the majority shareholder, to buy back all outstanding securities and shares presently listed at the Pakistan Stock Exchange of the Company, barring those held by Wyeth Holdings Corporation, being the wholly owned subsidiary of Wyeth LLC, (who will continue to hold securities and shares in the de-listed entity), from all minority security holders comprising approximately 396,579 ordinary shares comprising of 27.90% of the total paid up share capital of the Company”) and the decision of the Board of Directors of the Company to delist the Company from PSX under regulation 5.14 of the PSX Rule Book – Voluntary Delisting Regulations (the “Regulation”).
Wyeth Pakistan Limited is a public limited company incorporated in 1949. The Company is listed on the Pakistan Stock Exchange and is engaged in import, marketing, distribution and sale of research based ethical specialties and other pharmaceutical products. Pfizer Inc. is the ultimate parent of the Company. Wyeth LLC, USA and Wyeth Holding Corporation USA, which are subsidiaries of Pfizer Inc., are the principal shareholders of the Company.
The total number of shares are 1,421,610. The Earning per share is (92.28) in 2020 which was 16.30 in 2019. The Profit After Taxation in 2020 is (13,189,000) which was 23,176,000 in 2019.