Karachi: The Pakistan Stock Exchange (PSX) has issued a formal inquiry to Kohinoor Industries Limited (KOIL) regarding an unexpected surge in the trading volume of its shares, as announced on August 21, 2024. This notice, following Section 97 of the Securities Act, 2015 and PSX Regulation 5.6.3, demands that KOIL provide explanations to clarify the reasons behind this significant trading activity.

According to information available from the Pakistan Stock Exchange (PSX), the regulatory body noted this unusual movement in KOIL’s share volumes during the recent trading period, without specific dates provided. The exchange has mandated that KOIL either disclose any pertinent information that may explain these movements or confirm the absence of any known influencing factors.

The directive aligns with the obligations of listed companies to report any material information that could impact share prices or trading volumes under PSX Regulation 5.6.1. It emphasizes the importance of transparency and timely communication with the market to maintain fair trading practices.

KOIL is expected to respond promptly by submitting the required details through the PSX’s Public Disclosure and Reporting System (PDCARS) to ensure that all market participants are adequately informed.

This move by PSX underscores its commitment to uphold regulatory standards and protect investor interests by ensuring that all significant market activities are well-documented and transparent.