Nishat Chunian Limited proposes buyback of 21 percent of issued shares

Nishat (Chunian) Limited proposed a buyback of up to 21 percent of its issued and paid up shares on 21 October. The board recommended purchasing a maximum of 50.42 million ordinary shares, each carrying a face value of Rs. 10.
A special resolution regarding the plan will be presented at an Extraordinary General Meeting on 20 November. The company intends to conduct the purchase through the exchange at prevailing market prices between 28 November and 19 May.
Funding for the acquisition will come from distributable profits in compliance with the Companies Act, 2017. Nishat Chunian stated the buyback could improve earnings per share by reducing the number of outstanding shares, as the firm plans to cancel the acquired units.




















































































