The Pakistan Stock Exchange (PSX) has officially delisted Engro Corporation Limited (ENGRO). The delisting took effect on Tuesday, January 14, 2025.
The PSX announced the delisting in a formal notification. The decision follows the implementation of a Scheme of Arrangement. This scheme involved the merger of Engro Corporation Limited (ENGRO) with Engro Holdings Limited (ENGROH). Engro Holdings Limited was previously known as Dawood Hercules Corporation Limited.
The PSX notice confirmed the delisting. It stated, “As a result of the Scheme of Arrangement of Engro Corporation Limited (ENGRO) and Engro Holdings Limited (ENGROH), and on fulfillment of relevant requirements, ENGRO shall stand delisted from the Exchange with effect from Tuesday, January 14, 2025.”
Merger and Rebranding
The delisting comes after the successful reorganization of the two companies. Engro Holdings Limited (ENGROH) has now taken over the operations and responsibilities of Engro Corporation Limited. The rebranding and restructuring have been in progress for some time. The Scheme of Arrangement allowed the two companies to consolidate operations under one entity.
PSX Confirms All Requirements Met
The Pakistan Stock Exchange stated that all necessary requirements for the delisting have been fulfilled. It emphasized that Engro Corporation Limited will no longer be traded on the stock exchange. Investors and stakeholders have been informed of the decision through official channels.
The PSX clarified that Engro’s delisting follows regulatory and procedural compliance. This includes meeting all legal and corporate obligations associated with such a process.
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Impact on Investors
With the delisting, Engro Corporation Limited’s shares will no longer be available for trade on the PSX. Existing shareholders will need to follow any guidelines issued by the company or stock exchange regarding their investments. Stakeholders can expect updates from Engro Holdings Limited (ENGROH) as it assumes control.
Background of the Scheme
The Scheme of Arrangement was introduced as a strategic move. It aimed to streamline operations and improve efficiencies between Engro Corporation Limited and Engro Holdings Limited. The merger and subsequent delisting mark a significant development in the corporate history of both entities.
Final Trading Day
January 13, 2025, was the last day for trading Engro Corporation Limited’s shares on the PSX. Investors had until that date to adjust their holdings or sell their shares.
Future of Engro Holdings Limited
Engro Holdings Limited (ENGROH) will now represent the consolidated operations. The company, previously known as Dawood Hercules Corporation Limited, continues to hold a significant position in Pakistan’s corporate sector. It is expected to maintain its presence on the Pakistan Stock Exchange under its current name and symbol.
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