Pakgen Power rejects reports of unusual share price increase

Pakgen Power Limited (PKGP) dismissed on Monday reports of increase in the prices of the shares of the company.

“We wish to state that we are not aware of any such matter or development that may have led to unusual movements and increase in price of the shares of the Company,” the company said in a notice to the Pakistan Stock Exchange (PSX) today.

“We assure you that the Company is fully cognizant of all applicable legal requirements with regard to dissemination of material information and if and when there will be any material information relating to the Company’s affairs the same will be disseminated in accordance with the applicable requirements of the Securities Act, 2015 and Rule Book of Pakistan Stock Exchange Limited,” the notice added.

Pakgen Power Limited (PKGP) was incorporated in Pakistan in 1995 with the registered head office company in Lahore. The principal activities of the power company are to own, operate and maintain an oil fired power station having gross capacity of 365 MW in Mehmood Kot, Muzaffargarh, Punjab, Pakistan.