P&G exit: PSX sets Rs700 minimum buyback price for Gillette Pakistan delisting

After reviewing, the Voluntary Delisting Committee (VDC) of the Pakistan Stock Exchange (PSX) has rejected the Gillette Pakistan Limited (GLPL) sponsors’ proposed buyback price of Rs216.49 per share and instead set a much higher minimum buyback price of Rs700 per share for GLPL. The decision was taken during a meeting of the VDC held on Monday, where the committee considered GLPL’s application for voluntary delisting from the bourse. “The VDC held detailed discussions with the representatives of the sponsors, and after considering all relevant aspects under the applicable regulations, the committee decided to determine the minimum buyback price of Rs700/- per share against the offer of the sponsor of Rs216.49/- per share,” read the notice.