Nishat Chunian to Buy Back 5 Crore Shares
Nishat (Chunian) Limited (PSX: NCL) has proposed buying back up to 21 percent of its issued and paid up shares, … Read More The post Nishat Chunian to Buy Back 5 Crore Shares appeared first on ProPakistani .
Nishat Chunian Limited (PSX: NCL) has proposed purchasing up to 5 crore shares, representing a maximum of 21% of its issued and paid shares. This decision, recommended by the board on October 21, 2026, will be put to a shareholder vote at an Extraordinary General Meeting on November 20, 2026. The buyback will be executed via the exchange at the market price prevailing at the time of purchase, with the company aiming to cancel the shares acquired.
Scheduled to run from November 28, 2026, to May 19, 2027, or until completion, whichever occurs first, the buyback will be funded by distributable profits as per the Companies Act, 2017. Nishat Chunian believes this move could enhance earnings per share by reducing outstanding shares and offer shareholders an exit opportunity.
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