Kohinoor Textile Mills Executes Share Buy-Back with Acquisition of 5,739,500 Ordinary Shares

Karachi, Kohinoor Textile Mills Limited has successfully carried out a significant share buy-back, marked by the purchase of 5,739,500 ordinary shares at a rate of Rs. 59.65 per share during the trading session on August 17, 2023. The buy-back operation aligns with the Special Resolution passed during the Extraordinary General Meeting held on March 03, 2023, in accordance with regulation 6(e) of the Listed Companies (Buy-Back of Shares) Regulations, 2019.

This strategic move demonstrates Kohinoor Textile Mills Limited’s commitment to optimizing its equity structure and enhancing shareholder value. By repurchasing its own shares, the company aims to consolidate ownership and express confidence in its future prospects. The buy-back decision was driven by the intent to leverage the opportunities presented in the current market conditions.

The execution of the share buy-back underscores the company’s proactive approach to capital management and capital structure optimization. With this successful buy-back, Kohinoor Textile Mills Limited reiterates its dedication to fostering a balanced and rewarding environment for its investors, while further enhancing its financial position within the market.

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