AGP Limited board approves buy-back of 5.6 million shares, AGM set for April 20

AGP Limited board has approved a proposal to buy back up to 5.6 million shares, representing around 2% of its issued and paid-up capital, subject to shareholder approval at its upcoming annual general meeting.

The decision was taken by the company’s Board of Directors in a meeting held on March 19, 2026, with the proposal to be presented for approval through special resolutions at the AGM scheduled for April 20, 2026 in Karachi.

According to the company, the buy-back will be carried out in line with the Companies Act, 2017 and the Listed Companies (Buy-Back of Shares) Regulations, 2019.

The shares will be purchased at the prevailing market price on the Pakistan Stock Exchange through its automated trading system.

The buy-back period is set to begin on April 22, 2026 and will remain open until October 18, 2026, or until completion, whichever comes earlier.

The company said the repurchased shares will be held as treasury shares to support shareholder value and allow capital optimisation, including potential future use under employee incentive plans.

Funding for the buy-back will be arranged through the company’s distributable profits, as permitted under applicable laws.

AGP stated that all shareholders will be eligible to participate in the buy-back, except those restricted under relevant regulations.

The company expects the transaction to improve key financial indicators, including earnings per share, return on equity and break-up value per share.

The share transfer books will remain closed from April 14 to April 20, 2026, to determine shareholder eligibility for participation and voting at the AGM.

AGP Limited operates in the pharmaceutical sector, with activities spanning import, manufacturing, marketing, distribution and export of pharmaceutical products. 

Aitkenstuart Pakistan (Private) Limited holds a 55.80% stake in the company, while West End 16 Pte Limited of Singapore is the ultimate parent entity.

AGP Limited was incorporated in May 2014 as a public limited company under the Companies Ordinance, 1984, and was later listed on the Pakistan Stock Exchange on March 5, 2018.