Karachi: Colony Textile Mills Limited (CTM) has officially responded to inquiries regarding recent unexpected fluctuations in its share price, stating the company has no knowledge of any developments that could have triggered such movements. This statement was issued following a query from the Pakistan Stock Exchange dated September 05, 2024.
According to information available from the Pakistan Stock Exchange (PSX), the exchange had sought clarification from CTM due to notable volatility in its share price, which prompted concerns and speculation among investors and market analysts.
CTM's management has confirmed that they are not aware of any business or financial developments within the company that could have led to the unusual trading activity observed. The company has communicated this position to the TRE Certificate Holders of the Exchange to ensure transparency and maintain investor confidence.
This announcement aims to address any uncertainties and stabilize the market response, ensuring that stakeholders are informed directly of the company's current status regarding this matter.