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Karachi, Kohat Cement Company Limited has successfully repurchased a substantial number of its own shares through the Pakistan Stock Exchange Limited. The buy-back initiative, which was authorized by special resolutions passed during the extraordinary general meeting held on February 21, 2023, signifies the company’s confidence in its future growth prospects.
On May 9, 2023, Kohat Cement Company Limited executed the purchase of 156,793 shares as part of its buy-back program. The company acquired the shares at an average price of PKR 149.7 per share, demonstrating its commitment to investing in itself and enhancing shareholder value.
The decision to buy back its own shares reflects Kohat Cement Company Limited’s belief in the underlying strength and potential of the company’s operations and assets. By repurchasing shares from the open market, the company aims to optimize its capital structure, capitalize on favorable market conditions, and effectively manage its cash position.
Kohat Cement Company Limited’s buy-back of its own shares exemplifies its long-term vision and commitment to creating value for its stakeholders. With this proactive approach, the company aims to fortify its market position and sustain its growth trajectory in the competitive cement industry.