Karachi: Arctic Textile Mills Limited (ARCTM) is currently under scrutiny due to significant fluctuations in its share price, according to market regulations and securities laws. This situation demands a detailed explanation from ARCTM to satisfy regulatory and investor queries regarding the recent trading patterns observed in its stock.
On August 6, 2024, the Pakistan Stock Exchange (PSX) noted an unusual movement in the price of ARCTM shares. This observation is in line with Section 97 of the Securities Act, 2015, and clause 5.6.3 of the PSX Regulations, which mandate that listed companies must promptly respond to any unusual price or volume movements of their traded securities. Companies can either provide details about relevant matters or developments they are aware of, or issue a statement confirming their unawareness of any such matters.
The regulatory framework aims to maintain transparency and protect investor interests by ensuring that all material information which could impact share prices is swiftly shared with the public. According to information available from the Pakistan Stock Exchange (PSX), Arctic Textile Mills has been advised to disclose any pertinent information through the proper channels as quickly as possible.
This regulatory attention comes amid broader efforts to bolster market integrity and investor confidence in the financial system. ARCTM is expected to issue a formal response that will clarify the reasons behind the price volatility of its shares, adhering to the stipulations of PSX Regulation 5.6.3.