Karachi: Arif Habib Group Limited has addressed concerns regarding the recent unusual movement in the price of Aisha Steel Mills Limited – Preference Shares (ASLCPS), following a request for clarification from the Pakistan Stock Exchange (PSX). The inquiry, prompted by a letter dated October 13, 2025, was received by the Company on October 15, 2025.

In their response, Arif Habib Group Limited stated that the Company is not aware of any specific reason or development under Section 97 of the Securities Act, 2015, and clause 5.6.3 of PSX Regulations that could explain the unusual price fluctuations of ASLCPS. According to information available from the Pakistan Stock Exchange (PSX), the preference shares are a convertible security and one of three listed securities of the Company, each carrying equal voting rights. The ASLCPS currently represents 137,920 shares, which constitutes approximately 0.01% of the total voting shares of the Company.

The Company clarified that the price of ASLCPS should be correlated with ordinary shares, which did not experience any unusual fluctuations during the examined period. The Company emphasized that it is best known to the offerors and bidders in the system what has caused the price fluctuations of ASLCPS. The Company assured stakeholders of its commitment to compliance with all relevant regulatory requirements.