Lucky Cement Limited Announces Buy-Back of Shares

Karachi, Lucky Cement Limited has resolved to initiate a buy-back of shares. The company has received approval to purchase up to 23,800,000 issued ordinary shares, with a face value of PKR 10/- each. This buy-back represents approximately 7.59% of the current issued and paid-up share capital of Lucky Cement Limited.

The decision to engage in a buy-back of shares highlights the company’s confidence in its own financial strength and long-term prospects. By repurchasing a portion of its outstanding shares, Lucky Cement aims to enhance shareholder value and optimize its capital structure.

The buy-back program signifies the company’s commitment to utilizing its available resources in a prudent manner. It also reflects management’s belief in the underlying value of the company’s shares. The repurchased shares may be held in the company’s treasury or canceled, depending on the future capital requirements and market conditions.