Atlas Engineering lifts up its buyback price – Alfalah Securities Limited

Karachi: Atlas Engineering Limited, who had applied for delisting from the Karachi Stock Exchange on October 27 2011, has increased its buyback offer price at PKR 58 per share from its previously quoted offer price of PKR 40.40 per share.

According to Alfalah Securities Limited, Atlas Engineering has applied for delisting from the stock exchanges of the country on account of unfavourable business policies which has hampered the growth of the engineering industry when malpractices such as smuggling, understating invoices and tax evasion have become an industry norm and the company has been facing severe profitability concerns over the years.

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