- September 4, 2026
- Posted by: Tresmark
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Pakistan Cables Limited (PSX: PCAL) has approved the acceptance of an offer from Chino Engineering & Construction (Private) Limited (CECL) to buy back the company’s entire shareholding in Chino Engineering & Construction Limited.
According to a material information notice submitted to the Pakistan Stock Exchange (PSX), the Board of Directors approved the transaction at its meeting held on September 3, 2026.
Pakistan Cables currently owns 4.845 million ordinary shares of CECL, each with a face value of Rs10, representing approximately 17% of CECL’s issued and paid-up share capital.
CECL has offered to purchase the shares at approximately Rs72.24 per share, translating into an aggregate transaction value of around Rs350 million.
The proposed buyback remains subject to obtaining all necessary corporate, regulatory and shareholder approvals, where applicable, along with completion of the required documentation and other formalities.
Following completion of the transaction, Pakistan Cables will no longer hold any shares in CECL.
The company said it will make further disclosures in accordance with applicable laws and regulations once any material development occurs in connection with the proposed transaction.
