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Karachi, In compliance with Regulation 6(e) of the Listed Companies (Buy-Back of Shares) Regulations, 2019, Lucky Cement Limited has successfully completed the purchase of its own shares during the PSX trading session on July 17, 2023. The company acquired a total of 161,135 shares at a weighted average price of PKR 580.00 per share.
Lucky Cement Limited, a prominent player in the cement industry, embarked on the buy-back initiative as part of its strategic approach to strengthen its financial position and optimize shareholder value. The move signifies the company’s confidence in its long-term growth prospects and its commitment to creating value for its investors.
By purchasing its own shares, Lucky Cement Limited aims to enhance its overall shareholder value by reducing the number of outstanding shares in the market. This strategic decision also reflects the company’s belief in the underlying strength of its business and its ability to generate sustainable returns.
The buy-back transaction was executed in accordance with the regulatory requirements and guidelines set forth by the Listed Companies (Buy-Back of Shares) Regulations, 2019. Lucky Cement Limited ensured full compliance throughout the process, maintaining transparency and adhering to the specified guidelines.
The shares were acquired at a weighted average price of PKR 580.00 per share, demonstrating the company’s willingness to invest in its own stock at a favorable price point. This purchase will have a positive impact on Lucky Cement Limited’s financials, potentially boosting earnings per share and signaling confidence in the company’s future performance.
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