Nishat (Chunian) Limited, trading as PSX: NCL, announced a proposal to repurchase up to 21 percent of its issued and paid up shares, amounting to a maximum of 50.42 million ordinary shares, pending approval from shareholders.
On October 21, the board of directors suggested this plan, which requires a special resolution at an Extraordinary General Meeting set for November 20, 2026.
Purchases will happen through the exchange at prevailing market prices during the transaction. Each share carries a face value of Rs. 10, and the business plans to cancel all acquired shares.
The repurchase window spans from November 28, 2026, until May 19, 2027, or until completion, whichever happens first. According to the firm, distributable profits will finance the acquisition under the Companies Act, 2017.
Nishat Chunian stated that lowering the count of outstanding shares could boost earnings per share. The move also offers an exit path for investors seeking to cash out their holdings.
