Karachi: In a decisive move, the Pakistan Stock Exchange Limited has announced the delisting of Prudential Stocks Fund Limited (PUDF) from its listings, effective immediately. This action comes after a series of non-compliances with PSX Regulations were identified.

According to information available from the Pakistan Stock Exchange (PSX), PUDF committed multiple regulatory infractions, including the failure to hold annual general meetings, submit annual audited financial statements, and pay dues to the PSX. Additionally, the company did not join the Central Depository System (CDS) after its security was declared eligible by the Central Depository Company (CDC). Furthermore, a winding-up petition has been filed against the company in court by the Commission.

The delisting was executed following the appointment of an Official Liquidator under PSX Regulation 5.11.6. Despite opportunities to contest the delisting, PUDF did not respond to notices or objections issued by the Exchange at its registered address and through PUCARS. The Official Liquidator has been duly informed of the delisting action.

Trading in PUDF shares has been suspended since August 16, 2010. The decision to delist was made under Section 19(4) of the Securities Act, 2015, and the PSX Regulations, marking the end of PUDF's presence on the Exchange. All concerned parties have been advised to take note of this development.