Karachi: JS Investments Limited has announced an ambitious buyback program, set to commence on October 21, 2024. According to the details provided, the company plans to repurchase up to 4,630,000 of its ordinary shares, which represent approximately 7.5% of its total outstanding shares, from the open market.
The buyback, which is slated to run through December 20, 2024, or until the targeted number of shares is reached, aims to hold the repurchased shares as treasury stock. This move is executed in compliance with the Listed Companies (Buy-Back of Shares) Regulations, 2019, underscoring JS Investments’ strategy to manage capital effectively.
According to information available from the Pakistan Stock Exchange (PSX), this decision reflects the company’s confidence in its intrinsic value and its commitment to delivering shareholder value. The transactions will take place on the Pakistan Stock Exchange, where the company’s shares are publicly traded.
Muhammad Khawar Iqbal, the COO and Company Secretary of JS Investments, will be the point of contact for any inquiries or concerns regarding the buyback process. The company has established a transparent mechanism to ensure that all transactions are conducted smoothly and in accordance with regulatory requirements.
Investors and shareholders interested in participating in the buyback are encouraged to reach out directly to Muhammad Khawar Iqbal using the provided contact details, or to visit the company’s official website for more information.
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