Shield Corporation to Delist from PSX

Shield Corporation Limited’s board of directors has approved a plan to delist the company from the Pakistan Stock Exchange (PSX) under the voluntary delisting rules, citing persistently low trading volumes, recent financial losses, and a lack of dividend payments since 2021. In a notice to the PSX and the Securities and Exchange Commission of Pakistan, Shield said its sponsors intend to acquire all outstanding shares from minority shareholders, paving the way for full ownership and delisting. The company will submit a formal application to the exchange, and the buy-back price for minority shares will be determined in line with PSX and SECP regulations. The board cited several reasons for the move: the company’s shares have averaged a daily trading volume of just 923 shares over the past year, Shield has posted losses for the last two financial years, and no dividends have been paid since 2021. Management said delisting would reduce complexity and allow greater focus on core business operations. Once the application is accepted, Shield will call a general meeting of shareholders to seek approval for the delisting through a special resolution. The Company started its commercial production on 26 November 1975 and is mainly engaged in the manufacturing, trading and sales of oral care and baby care products.