Pakistan Cables approves Rs350m CECL share buyback
MG News | September 04, 2026 at 09:52 AM GMT+05:00
September 4, 2026 (MLN): Pakistan Cables Limited (PSX: PCAL) approved the acceptance of an offer from Chinoy Engineering & Construction (Private) Limited (CECL) to buy back the company’s entire 17% shareholding in CECL.
The company holds 4,845,000 ordinary shares of CECL, each
with a face value of Rs10, representing 17% of CECL’s issued and paid-up share
capital.
CECL offered to buy back the shares at approximately Rs72.24
per share for an aggregate consideration of approximately Rs350 million.
The proposed transaction remains subject to all requisite
corporate, regulatory, shareholder and other approvals, along with completion
of necessary documentation and formalities.
Upon completion, Pakistan Cables will cease to hold any
shares in CECL.
The aforementioned information was disseminated through a notification to
Exchange.
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