Shield Corporation Files to Delist Shares from PSX

Shield Corporation Limited has applied to voluntarily delist its shares from the Pakistan Stock Exchange (PSX), citing low trading activity and continued financial losses as the main reasons for the move.

In its application submitted under PSX Rule 5.14, the company said its shares have seen very limited trading, with an average daily volume of around 923 shares during the past year. The company also reported losses over the last two financial years and said it has not paid any dividends to shareholders since 2021.

The company said that remaining listed on the exchange no longer serves its business needs and adds regulatory and operational costs. It said the delisting would allow management to focus on running and improving the core business.

Shield Corporation also said it plans to offer to buy shares from its minority shareholders as part of the delisting process.

The company confirmed that its registered office is located at 1007, 10th Floor, Business Avenue, Block 6, P.E.C.H.S., Karachi, and that its authorized share capital is Rs. 150 million.

The Pakistan Stock Exchange will review the request in line with its rules before making a decision. The company will remain listed until the exchange completes its review and issues a formal order.