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Karachi, Kohinoor Textile Mills Limited, a prominent entity in the textile industry, has successfully executed a significant financial move in alignment with a Special Resolution passed earlier this year. The company conducted a buy-back of its own shares, demonstrating its strategic approach to optimizing its capital structure and enhancing shareholder value.
This transaction is carried out in compliance with Regulation 6(e) of the Listed Companies (Buy-Back of Shares) Regulations, 2019. It highlights the company’s commitment to adhering to regulatory guidelines while making vital financial decisions.
As part of this initiative, Kohinoor Textile Mills Limited has purchased 1,251,000 ordinary shares at a rate of Rs. 60.00 per share. This buy-back occurred during the trading session on August 18, 2023, at the Pakistan Stock Exchange Limited. The execution of the buy-back reinforces the company’s belief in the value it holds, and its dedication to utilizing available resources for the optimal benefit of its shareholders.
This event reflects Kohinoor Textile Mills’ prudent financial management strategy, aimed at balancing the utilization of resources, managing shareholder interests, and driving long-term sustainability. The successful implementation of the buy-back underscores the company’s commitment to value creation and its efforts to navigate the dynamic market landscape.
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