Karachi: Shareholders of various leading Pakistani companies, including Engro Corporation, Avanceon, Colgate-Palmolive, and Pakistan Petroleum, have reported multiple instances of lost share certificates in late July 2024, raising concerns among market participants and prompting urgent advisories from FAMCO Share Registration Services.

The series of losses were first noticed on July 24, 2024, with the latest incidents recorded on July 31, 2024. Notable among the affected shareholders is Mr. Muhammad Ibrahim from Karachi, who reported the loss of 90 shares of Engro Corporation on July 31. Additionally, Ayesha Tahira from Rawalpindi and Mrs. Jane Monteiro from Karachi have also faced similar predicaments with shares of Avanceon and Colgate-Palmolive, respectively.

Further complicating the situation are the reports from Pakistan Petroleum Limited shareholders like Ms. Zainab Tanveer Piracha and Mrs. Rushna Shamsi Fuad, who noted significant quantities of shares missing. The notices issued by FAMCO stressed the urgency of the matter and advised members of the Pakistan Stock Exchange (PSX) against dealing with these shares.

According to information available from the Pakistan Stock Exchange (PSX), such incidents require prompt reporting to prevent unauthorized trading. The companies involved have provided a window ranging from three to seven days for the filing of any objections after public announcements, after which they will issue duplicate certificates to the rightful shareholders.

These incidents highlight the critical importance of secure handling and storage of share certificates. Shareholders are advised to immediately report any similar incidents to their respective companies to safeguard their investments.