CSIL’s actions lead to DSL’s unusual share price movement

News Image

MG News | October 20, 2021 at 10:20 AM GMT+05:00

0:00

October 20, 2021 (MLN): Dost Steel Limited (DSL), in an announcement to PSX said that the company has been informed by the Sponsors that the Letter of Intent (LOI) sent by Crescent Star Insurance Limited (CSIL) to acquire 78.86 million shares of DSL is an unsolicited proposal on its own account, hence the same is not acknowledged by the Sponsors of the Company.

Accordingly, the Sponsors, Mr Jamal Iftikhar & Family, conclude on a reasonable ground that it is the CSIL's actions that have led to the unusual movement of the Company's share price or traded volume.

Earlier, on Oct 18, 2021, CSIL had issued an LOI, wherein the company expressed its intention to acquire 78,858,534 shares of DSL from the group of shareholders forming 24.97% at Rs7/64 per share.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 138,412.25
167.69M
0.32%
447.43
ALLSHR 85,702.96
423.92M
0.15%
131.52
KSE30 42,254.84
82.09M
0.43%
180.24
KMI30 194,109.59
84.37M
0.15%
281.36
KMIALLSHR 56,713.67
217.03M
0.03%
16.37
BKTi 37,831.34
13.04M
1.62%
603.62
OGTi 27,440.63
3.93M
-0.09%
-23.70
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 118,355.00 119,440.00
118,260.00
60.00
0.05%
BRENT CRUDE 72.57 73.17
71.75
0.06
0.08%
RICHARDS BAY COAL MONTHLY 96.50 0.00
0.00
2.20
2.33%
ROTTERDAM COAL MONTHLY 104.50 104.50
104.50
-0.30
-0.29%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 69.30 69.79
68.45
0.09
0.13%
SUGAR #11 WORLD 16.41 16.58
16.40
-0.18
-1.09%

Chart of the Day


Latest News
July 30, 2025 at 05:17 PM GMT+05:00

Pakistan consumer confidence falls to 40.1 points in July


July 30, 2025 at 05:03 PM GMT+05:00

PKR rises by 10 paisa against USD


July 30, 2025 at 04:11 PM GMT+05:00

PSX Closing Bell: You Can’t Always Get What You Want


July 30, 2025 at 03:47 PM GMT+05:00

CCP resolves 223 cases, recovers Rs360m



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg