Karachi: First Al-Noor Modaraba (FANM) has been prompted to address recent unusual movements in the price of its certificates, as observed by the Pakistan Stock Exchange (PSX). This development, noted on October 29, 2025, stems from the requirements outlined in Section 97 of the Securities Act, 2015 and clause 5.6.3 of PSX Regulations. These rules mandate listed companies to swiftly disclose to the public any relevant matters or to clarify the absence of such issues when significant changes in price or volume occur.
The PSX has identified these unusual price movements in FANM’s certificates during the recent period. According to information available from the Pakistan Stock Exchange (PSX), companies must share any material or price-sensitive information that could affect the price or volume of their shares. This requirement ensures transparency and timely public dissemination, in line with PSX Regulation 5.6.1.
In response, FANM has been advised to provide sufficient information to clarify its position regarding the recent price fluctuations of its certificates. This disclosure is vital to adhere to PSX Regulation 5.6.3 and to maintain public confidence. The market category under which FANM falls remains a focal point for ongoing monitoring by stakeholders and investors.