Karachi July 25 2023: Engro Corporation Limited inform that the Approved Buyback by the Company stands completed today with only 56 percent announced shares purchased, according to company filing to the exchange.
ENGRO has purchased an aggregate of 39,536,762 issued and paid-up ordinary shares of the Company during the purchase period, representing approximately 6.86 percent of the issued and paid-up share capital of the Company.
On December 14, 2022, company Board of Directors decided to purchase/buy-back by the Company of an aggregate of up to 70,000,000 issued shares.
The purpose of the purchase is cancellation of shares by purchasing shares through the Pakistan Stock Exchange Limited at spot price. The announcement buy back forms is approximately 12.1 percent of the total outstanding shares of the Company.
The shares will be purchased from February 03, 2023 to July 25, 2023 (both days inclusive) or till such date that purchase is complete, whichever is earlier.
