{
  "id": 5496120,
  "title": "Pakistan Cables approves CECL’s buy-back on entire stake for Rs350mn",
  "url": "https://urgent.news/2026/09/04/pakistan-cables-approves-cecls-buy-back-on-entire-stake-for-rs350mn",
  "topic": "business",
  "section": "Business",
  "published": "2026-09-04T04:45:06.000Z",
  "source": {
    "name": "Business Recorder",
    "slug": "business-recorder",
    "url": "https://www.brecorder.com/news/40437905/pakistan-cables-approves-cecls-buy-back-on-entire-stake-for-rs350mn"
  },
  "original_language": "en",
  "account": "Pakistan Cables Limited (PCAL) has approved the acquisition of its 17% stake in Chinoy Engineering & Construction (Private) Limited (CECL) for around Rs350 million. The company disclosed the news on the Pakistan Stock Exchange. PCAL currently holds 4,845,000 ordinary shares of Rs10 each in CECL, representing 17% of CECL's issued and paid-up share capital. CECL has proposed to repurchase these shares at approximately Rs72.24 per share, with the total consideration amounting to roughly Rs350 million. The transaction is contingent upon obtaining all necessary corporate, regulatory, shareholder, and other approvals, as well as the completion of requisite documentation and formalities. Upon successful completion of the buy-back, PCAL will relinquish its remaining shares in CECL. The company is obligated to provide further disclosures in compliance with applicable laws and regulations as any material developments arise in relation to the proposed transaction. PCAL, incorporated in Pakistan as a private limited company in 1953, was subsequently transformed into a public limited company in 1955. Its primary focus lies in the manufacture and sale of copper rods, wires, cables, conductors, aluminium extrusion profiles, and PVC compounds.",
  "summary": "Pakistan Cables Limited’s board has approved the sale of its 17% stake in Chinoy Engineering & Construction (Private) Limited (CECL) to the company for approximately Rs350 million. PCAL informed the Pakistan Stock Exchange today. It said that it currently held 4,845,000 ordinary shares of Rs10 each in CECL, representing 17% of CECL’s issued and paid-up share capital. “CECL has offered to buy back…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}