The Pakistan Stock Exchange (PSX) has extended the trading suspension of shares in four companies for an additional 60 days, effective October 19, 2026, after the firms failed to resolve outstanding regulatory violations and compliance issues.
In two separate notices, the exchange identified Al-Mal Securities & Services Limited, First Investec Modaraba, Usman Textile Mills Limited, and Dewan Khalid Textile Mills Limited as companies that will remain suspended from trading.
According to the PSX, Al-Mal Securities, First Investec Modaraba, and Usman Textile Mills failed to convene annual general meetings, submit audited annual financial statements, clear outstanding exchange dues, and admit their ordinary shares into the Central Depository System.
The Securities and Exchange Commission of Pakistan (SECP) has also initiated winding-up petitions against all three companies.
The exchange noted that these firms did not rectify violations under Clauses 5.11.1(b), (c), (d), (e), and 5.11.2(b) of the PSX Regulations, despite an earlier notice issued on August 19, 2026.
In a separate notification, the PSX extended the trading suspension of Dewan Khalid Textile Mills Limited due to multiple regulatory breaches, including the suspension of commercial production or business operations in its principal line of business.
The company additionally failed to hold annual general meetings, file audited financial statements, and settle exchange dues. Its statutory auditor also issued an adverse opinion in the company’s audit report.
The PSX stated that the SECP had passed an order to file a winding-up petition against Dewan Khalid Textile Mills, while creditors had separately filed a winding-up petition in court.
The exchange cited violations of Clauses 5.11.1(a), (b), (c), (d), (g), and 5.11.2(a) and (c) of its regulations.
According to the notifications, trading in the shares of all four companies will remain suspended until the outstanding violations are addressed or for another 60-day period commencing October 19, 2026, under Section 19(7) of the Securities Act, 2015, and Clause 5.11 of the PSX Regulations.
The latest notices follow earlier suspension notifications issued on August 19, indicating that the companies have yet to resolve the compliance issues identified by the exchange.
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