PSX to Delist Allied Rental Modaraba Tomorrow

Allied Rental Modaraba will be delisted from the main bourse with effect from June 26, 2024, Wednesday, Pakistan Stock Exchange announced on Tuesday. “As a result of Demerger of Allied Rental Modaraba (ARM) into Allied Rental Services Limited and Allied Transport & Logistics Limited, and on fulfillment of relevant requirements, Allied Rental Modaraba shall stand delisted from the Exchange with effect from tomorrow i.e. Wednesday, June 26, 2024,” the stock filing stated. It may be noted that the shares of the surviving entities have been issued to the certificate holders of ARM as per the Swap Ratio, the filing added. The Modaraba is a perpetual Modaraba and is primarily engaged in rental/Ijarah and operation and maintenance of Caterpillar and other equipments (i.e. generators, forklifts, compactors, etc.).