Nishat (Chunian) Limited (PSX: NCL) has proposed buying back up to 21 percent of its issued and paid up shares, covering a maximum of 50.42 million ordinary shares, subject to shareholder approval.
The company’s board recommended the move on October 21, with a special resolution to be presented at an Extraordinary General Meeting scheduled for November 20, 2026.
The proposed buyback would be conducted through the exchange at the prevailing market price at the time of purchase. The shares have a face value of Rs. 10 each, and the company intends to cancel the shares it acquires.
The proposed purchase period is scheduled to run from November 28, 2026, to May 19, 2027, or until the buyback is completed, whichever comes first. The company said the purchase would be funded from distributable profits, in accordance with the Companies Act, 2017.
Nishat Chunian said the buyback could improve earnings per share by reducing the number of outstanding shares. It would also provide shareholders who want to liquidate their investments with an opportunity to exit.
The post Nishat Chunian to Buy Back 5 Crore Shares appeared first on ProPakistani.
