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KARACHI: Philip Morris (Pakistan) Limited has announced plans to voluntarily delist from the Pakistan Stock Exchange (PSX), following approval from its Board of Directors in a meeting held on March 25.
The company’s majority stakeholder, Philip Morris Investments B.V., has been authorized to repurchase shares from minority shareholders, excluding those owned by Philip Morris Brands SARL.
The buyback process will comply with PSX regulations and any directives from the Securities and Exchange Commission of Pakistan (SECP).
A formal delisting application will be submitted to PSX soon.
