ENGRO to buy back 70mn ordinary shares

MG News | December 15, 2022 at 09:27 AM GMT+05:00

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December 15, 2022 (MLN): The board of directors of ENGRO Corporation Limited (ENGRO) has announced to buy back up to 70 million issued and paid-up ordinary shares of the company, the company’s stock filings on the stock exchange showed on Thursday.

The face value of shares is Rs10 each and consists of 12.1% of the company’s total outstanding shares.

The board also provided its approval to recommend the members for their approval to buy back the shares.

Accordingly, an extra-ordinary general meeting of the company will be held on Thursday, January 26, 2023 for approval of the purchase by the members by way of special resolutions.

After this news the value of EGRO's scrip has surged by around Rs10 (3.71% DoD) to Rs279.

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