⚡ Flash Summary

Aisha Steel Mills Limited (ASML) has responded to the Pakistan Stock Exchange’s (PSX) inquiry regarding unusual price movement in its preference shares (ASLCPS). The company stated that it is unaware of any specific reason or development that would have caused the unusual price movement, reaffirming compliance with Section 97 of the Securities Act, 2015 and clause 5.6.3 of PSX Regulations. ASLCPS is a convertible security representing approximately 0.01% of the total voting shares. The company believes its price should correlate with its ordinary shares.

📌 Key Takeaways

• 📢 ASML responded to PSX inquiry regarding unusual price movement in ASLCPS on October 16, 2025.
• 🔍 The company is unaware of any specific reason for the price fluctuation.
• ✅ ASML reaffirms compliance with Section 97 of the Securities Act, 2015 and PSX regulations.
• 📜 Reference made to earlier response dated August 27, 2025.
• 🔄 ASLCPS is a convertible security.
• 🗳️ All three listed securities carry equal voting rights.
• 📉 ASLCPS represents approximately 0.01% of the total voting shares (137,920 shares).
• 🔗 ASLCPS price should correlate with ordinary shares’ price.
• 🤔 Price fluctuations attributed to offerors and bidders in the system.
• 🏢 Company ensures compliance with regulatory requirements.
• 💼 Manzoor Raza is the Company Secretary.
• 📍 Company’s registered office is in Karachi.
• 🌐 Company website: www.aishasteel.com.

🎯 Investment Thesis

Given the lack of specific information provided by ASML in response to the PSX inquiry, a HOLD recommendation is appropriate. The price movement appears to be speculative, but since ASML states that they are not aware of any undisclosed information, there is no compelling reason to adjust the investment thesis based on the disclosure alone.