Suzuki Motor’s major shareholder offers to buy 26.91pc minority shares

KARACHI: Suzuki Motor Corporation, Japan, the majority shareholder has proposed to purchase 22,145,760 ordinary shares (26.91 percent of the paid-up capital) held by the minority shareholders of Pak Suzuki Motor Company at the minimum purchase price of Rs 406 per share.

With reference to the previous notice, the Board of Directors of Pak Suzuk Motor Company, on October 19, resolved to delist the company. The majority shareholders of the company have expressed their intention to repurchase 22,145,760 ordinary shares, constituting 26.91 percent of the total paid-up share capital of PSMC.

A formal application has been submitted, seeking approval for the delisting and share purchase from minority shareholders, material information sent to Pakistan Stock Exchange on Monday said.

The minimum purchase price has been determined in accordance with the requirements of the regulations 5.14.1 of PSX, it added.

Copyright Business Recorder, 2023