Karachi: The Pakistan Stock Exchange (PSX) has reported an unusual movement in the price of the certificates of First Elite Capital Modaraba (FECM), prompting regulatory scrutiny under Section 97 of the Securities Act, 2015, and clause 5.6.3 of PSX Regulations. The regulations mandate listed companies to disclose any developments that could explain sudden price or volume changes in their traded securities.

As of December 11, 2025, the PSX has observed significant fluctuations in FECM’s certificate prices over the preceding period. The unusual activity has raised questions regarding potential undisclosed material or price-sensitive information that could impact the market.

According to information available from the Pakistan Stock Exchange (PSX), First Elite Capital Modaraba is required to promptly provide sufficient information to clarify the circumstances surrounding the price movements. In instances where no relevant developments are known, companies must also issue a statement confirming this.

The PSX regulations emphasize transparency and require listed entities to disseminate any material information through the PSX’s Public Companies Automated Reporting System (PUCARS) to ensure that the public is adequately informed. The ongoing situation with First Elite Capital Modaraba underscores the importance of timely and accurate disclosures in maintaining market integrity.