Karachi: The Pakistan Stock Exchange (PSX) has officially requested Kohinoor Power Company Limited (KOHP) to clarify the reasons behind the recent significant surge in its share price, according to a document dated September 05, 2024. The inquiry comes under the mandate of Section 97 of the Securities Act, 2015, coupled with PSX Regulation 5.6.3., highlighting the exchange's vigilance over unusual market activities.

According to information available from the Pakistan Stock Exchange (PSX), the formal notice, identified as PSX/Gen-1232, was issued to KOHP as a procedural step to maintain transparency and protect investor interests. Such movements in share prices often prompt regulatory bodies to seek detailed explanations from the concerned companies to rule out any irregularities or insider trading activities.

The regulatory body's move is a routine part of market oversight, designed to ensure that all market participants have access to the same information, thereby maintaining a level playing field and enhancing market integrity. KOHP is expected to respond promptly, shedding light on the factors driving the increased investor interest in their shares.