The Pakistan Stock Exchange (PSX) has determined and approved a revised buyback price for the ongoing voluntary delisting process of Gillette Pakistan Limited.
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The delisting, initiated by the company’s majority shareholder, involves a mandatory purchase of shares from minority shareholders (the “Buy-Back Offer”). The PSX, as the regulatory authority overseeing the process, has now set the final price per share for this transaction.
Key Details of the Buyback:
- Regulatory Oversight: The price was determined through a structured process administered by the PSX, following its regulations for voluntary delistings.
- Price Determination: The new price is typically calculated based on a volume-weighted average price (VWAP) of the stock over a specified period preceding the delisting announcement, ensuring a fair valuation for exiting shareholders.
- Impact on Minority Shareholders: This officially sanctioned price is the amount at which minority shareholders who tender their shares will be bought out by the company or its majority shareholder, completing their exit from the publicly listed entity.
This development marks a critical step toward the finalization of Gillette Pakistan’s delisting from the stock exchange. Once the buyback at this price is completed, the company will cease to be a publicly traded entity on the PSX.
The move is part of a broader trend where multinationals or majority owners in Pakistan evaluate the costs and benefits of maintaining a public listing, sometimes opting for greater private control.
