Karachi: Thatta Cement Company Limited has formally responded to an inquiry from the Pakistan Stock Exchange regarding unusual trading activity involving its shares. On October 15, 2024, the company's secretary, Muhammad Abid Khan, issued a letter to the PSX, clarifying the recent significant fluctuations in share prices and trading volumes.

According to information available from the Pakistan Stock Exchange (PSX), on October 11, 2024, the PSX had noticed an atypical pattern in the trading activity of Thatta Cement's shares and requested the company to provide explanations. The movement questioned involved notable deviations from usual trading volumes and share price behaviors, prompting regulatory scrutiny.

In the response addressed to the General Manager of the PSX, Thatta Cement asserted that it was not aware of any specific reasons that could have caused such movements in its shares. The company emphasized its compliance with the PSX Rule Book and the Securities Act of 2015, stating its commitment to transparency by disclosing all material and price-sensitive information in a timely manner.

Thatta Cement reassured the PSX and its investors that it would continue to adhere strictly to regulatory requirements and ensure all pertinent information affecting share prices would be disclosed according to legal and ethical standards.

The inquiry and response highlight the ongoing monitoring and regulatory mechanisms in place to maintain transparency and investor confidence in the financial markets of Pakistan.