Shield Corporation Limited (SCL), a Pakistani manufacturer of baby care and hygiene products, have proposed purchasing 209,598 ordinary shares—representing 5.37% of the company’s paid-up capital—for Rs465.17 per share. The move comes as SCL submitted a formal application to the Pakistan Stock Exchange (PSX) on Friday, requesting to delist the company and approve the purchase of shares from the minority shareholders. “The purchase price has been determined in compliance with Regulation 5.14.1 of the PSX regulations,” it said. Last year in November, SCL announced its delisting from the bourse . The company shared the following for delisting: The liquidity of the company’s shares remains significantly low, with an average daily trading volume of approximately 923 shares over the last one year. The company has incurred losses over the last two financial years. After 2021, dividends have not been paid to shareholders. Delisting of the company will reduce complexity and free up management time to focus on the core business of the company. “Due to the above reasons, the sponsors believe that it would be in the best interest of the minority shareholders of the company to be provided a fair opportunity to exit,” it said. SCL has an authorised share capital of Rs150 million divided into 15 million ordinary shares of Rs10 each, out of which 3.9 million ordinary shares of the aggregate nominal value of Rs39 million are issued and fully paid up. At the time of filing this story, the share price of Shield Corporation Limited was being traded at Rs488. Shield Corporation Limited was incorporated in Pakistan as a public limited company in 1975. The company’s principal business activity is the manufacturing, trading, and sale of oral hygiene and baby care products. SCL caters to the needs of over 300 towns and cities in Pakistan. Besides, the company has a presence in Europe, Asia, and Africa. In recent months, several companies have opted for delisting from the PSX. Last year in March, Philip Morris Investments B.V. , an affiliate of Philip Morris International (PMI), decided to purchase all the shares of the company and voluntarily delist from the PSX. Earlier, Johnson & Phillips (Pakistan) Limited (JOPP) , a manufacturer of electrical equipment, decided to delist from the exchange.