Engro Holdings plans buyback of 45 million shares, seeks shareholder approval

Engro Holdings Limited has proposed a buyback of up to 45 million shares, representing approximately 3.73% of its outstanding equity, subject to shareholder approval at the upcoming annual general meeting.

In a notice to the Pakistan Stock Exchange on Monday, the company said its board approved the proposal on March 27, 2026, recommending the repurchase of shares with a face value of Rs 10 each.

The buyback will be carried out through the Pakistan Stock Exchange at prevailing market prices and is scheduled to take place between May 7 and October 25, 2026, or until completion.

The company said the shares acquired under the programme will be cancelled, with the transaction aimed at improving cash flow per share and providing an exit opportunity for shareholders seeking to liquidate their holdings.

Engro Holdings said the buyback will be funded through distributable profits in line with regulatory requirements under the Companies Act, 2017.

Shareholder approval for the proposal will be sought at the AGM scheduled for April 28, 2026, in Karachi.

The company has also announced the closure of its share transfer books from April 21 to April 28, 2026, to determine voting eligibility for the meeting.