Karachi: Husein Industries Limited ("HUSI") has responded to concerns regarding significant recent fluctuations in its share price, asserting that there is no undisclosed material information behind the movements.

The company's statement came following an inquiry from the Pakistan Stock Exchange, referenced in Letter No. Gen-1142 dated August 20, 2024. Husein Industries acknowledged the volatility in its share price but confirmed to the Exchange that it is not aware of any material developments that could have triggered such unusual activity.

According to information available from the Pakistan Stock Exchange (PSX), HUSI emphasized its commitment to transparency, noting that all pertinent information has been disclosed in compliance with Securities and Exchange Commission regulations and the PSX Rulebook. The company also highlighted that its shares are thinly traded, which makes them susceptible to sharp price movements due to changing market sentiments.

This clarification is intended to reassure investors and regulatory bodies that Husein Industries maintains rigorous adherence to disclosure standards, and any significant price movement is a function of market dynamics rather than undisclosed company actions.

Husein Industries has expressed its readiness to assist the Exchange further if needed, underscoring its proactive stance in addressing regulatory concerns and investor queries regarding its financial dealings.