Karachi: The Pakistan Stock Exchange (PSX) has issued an inquiry to Kohinoor Industries Limited (KOHE) following an observed significant increase in the trading volume of its shares. The communication was made under Section 97 of the Securities Act, 2015 and PSX Regulation 5.6.3, requiring the company to provide an explanation or relevant information to the market.

According to information available from the Pakistan Stock Exchange (PSX), the letter, designated as PSX/Gen-1148 and dated August 21, 2024, asks KOHE to address the unusual trading activity. The regulatory notice points to a requirement for listed companies to respond swiftly by disclosing any material or development potentially relevant to such unusual movements in share volumes.

PSX has emphasized that KOHE should either detail any known matters that may influence the observed volatility or confirm the absence of any such developments. The regulation underscores the necessity for prompt dissemination of information that could impact share prices, through the PSX for public awareness.

The stock exchange's monitoring systems detected these atypical transactions in a recent period, although specific details of the volume increase were not disclosed. Kohinoor Industries is now expected to furnish sufficient information through the prescribed PDCARS system for public information, ensuring compliance with the stipulated regulations.