ISLAMABAD: Philip Morris Investments B.V. has formally agreed to a buyback price of Rs1,300 per share for the voluntary delisting of Philip Morris (Pakistan) Limited from the Pakistan Stock Exchange (PSX).
The agreement marks a key step forward in the multinational tobacco company’s plan to exit the local bourse, a move aimed at simplifying operations and reducing regulatory compliance burdens in Pakistan.
The price approval follows detailed negotiations and clearance from the PSX and Securities and Exchange Commission of Pakistan (SECP), ensuring alignment with shareholder protection rules and fair value assessments.
Shareholders to Receive Rs1,300 Per Share
Philip Morris Investments B.V., the majority shareholder of Philip Morris (Pakistan), will now begin the process of repurchasing shares from minority investors at the agreed price.
The Rs1,300 per share offer is significantly above the stock’s recent trading average, providing a lucrative exit opportunity for minority shareholders.
PSX has officially approved the delisting framework, and the company is expected to issue a formal public notice outlining the buyback schedule and payment process in the coming weeks.
Market analysts view the valuation positively, considering the limited trading volume and low free float of Philip Morris (Pakistan) on the exchange.
Strategic Realignment Behind Delisting Move
Industry experts believe the delisting aligns with Philip Morris International’s global strategy of streamlining listed operations in markets where capital-raising via stock exchanges is not essential.
The company has assured stakeholders that its operational and manufacturing presence in Pakistan will continue without interruption.
Philip Morris (Pakistan) has been active in the local market for over 50 years, with a significant footprint in the tobacco industry and a manufacturing facility in Sahiwal, Punjab.
The delisting is expected to be completed once the share repurchase is finalized and regulatory formalities are concluded.
