Karachi: Synthetic Products Enterprises Limited (SPEL) has been advised by the Pakistan Stock Exchange (PSX) to clarify the unusual movements in the price of its shares. This comes in response to the observations made by PSX about significant variations during the recent trading period. The company is required to either disclose any relevant developments or confirm the absence of such events, as per the regulations outlined in Section 97 of the Securities Act, 2025 and PSX Regulation 5.6.3.

On July 24, 2024, it was noted that SPEL's shares exhibited notable fluctuations in price. According to information available from the Pakistan Stock Exchange (PSX), the unusual movements could be indicative of material developments unknown to the public. As stipulated under PSX regulation 5.6.1, if any price-sensitive information exists, it is mandatory for listed companies like SPEL to disseminate such details promptly through PSX for public awareness.

SPEL is now under the obligation to provide sufficient information through the PSX’s Public Companies Information Retrieval and Archival System (PUCARS). The intent is to clarify any circumstances or developments that might have influenced the pricing of its securities. This disclosure is essential not only for maintaining transparency but also for ensuring that all market participants are equally informed about the factors affecting market dynamics.