Karachi: The certificates of First Equity Modaraba (FEM) have witnessed an unusual movement in their price, prompting the Pakistan Stock Exchange (PSX) to seek clarification from the company. This development was reported on July 9, 2025, as part of the ongoing regulatory requirements under Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations.

The PSX observed a very large or significant move in the price of FEM's certificates during the preceding period. As per the regulations, listed companies are required to respond promptly to such unusual movements by disclosing any relevant developments or confirming their unawareness of any matter that might have contributed to the price change.

First Equity Modaraba has been advised to provide sufficient information to clarify its position regarding the observed price movement. This requirement is in line with PSX Regulation 5.6.3, which mandates companies to disseminate material or price-sensitive information through the PSX promptly.

According to information available from the Pakistan Stock Exchange (PSX), the recent movements in FEM's certificate prices necessitate transparency to maintain market integrity and investor confidence. The PSX has emphasized the importance of timely disclosure to ensure that all stakeholders are adequately informed.

FEM is expected to furnish the required information through the PSX's Public Company Automated Reporting System (PUCARS) to facilitate public dissemination. The market category for First Equity Modaraba, as designated by the PSX, remains subject to the regulatory framework governing listed securities.