Karachi, September 4, 2026: Pakistan Cables Limited has approved a proposed buy-back of its entire shareholding in Chinoy Engineering & Construction (Private) Limited (CECL), according to a disclosure submitted to the Pakistan Stock Exchange.
The company said its Board of Directors, at a meeting held on September 3, 2026, approved the acceptance of an offer from CECL to buy back the shares held by Pakistan Cables.
Pakistan Cables currently owns 4.845 million ordinary shares of CECL, with a face value of Rs10 each. The holding represents 17% of CECL’s issued and paid-up share capital.
Under the proposed transaction, CECL has offered to purchase the shares at approximately Rs72.24 per share, resulting in an aggregate consideration of around Rs350 million.
The transaction is not yet final. Pakistan Cables stated that completion will depend on obtaining all required corporate, regulatory and shareholder approvals, along with the completion of necessary documentation and other formalities.
Once the buy-back is completed, Pakistan Cables will no longer hold any shares in CECL. The company also said it will make further disclosures if any material development occurs in relation to the proposed transaction.
The proposed divestment marks a significant change in Pakistan Cables’ investment position in CECL, with the company set to receive approximately Rs350 million for its entire 17% stake, subject to the completion of the required approvals and formalities.
