Karachi: First Treet Manufacturing Modaraba (FTMM) will suspend trading of its certificates following a court-sanctioned scheme to reduce its capital, impacting market activities for a brief period. The announcement, made on June 17, 2025, indicated that the Book Closure will occur from June 21 to June 23, 2025, as per the Lahore High Court's directive.

The capital reduction scheme will decrease FTMM's capital from Rs. 8.84 billion, divided into 883.59 million Modaraba certificates, to Rs. 1.96 billion, represented by 195.60 million certificates. This reduction is part of a restructuring effort communicated through a letter and subsequently posted on the Pakistan Stock Exchange (PSX) website.

Trading in FTMM certificates will be suspended from June 19 to June 23, 2025. The suspension aims to facilitate the capital reduction process. Following this period, trading is set to resume on June 24, 2025, contingent upon the completion of necessary requirements by FTMM.

According to information available from the Pakistan Stock Exchange (PSX), there will be no alteration in the price of the certificates post-restructuring. The designated market category for this operation remains unchanged.

The announcement and subsequent trading suspension are part of a structured effort to realign FTMM’s capital structure, as affirmed by the legal proceedings and regulatory compliance measures in place.