Engro Holdings board proposes buyback of up to 45mn shares

Engro Holdings Limited, one of Pakistan’s largest conglomerates, has announced plans to buy back up to 45 million of its ordinary shares, representing approximately 3.73% of its total outstanding shares. The development was observed in a notice to the Pakistan Stock Exchange (PSX) on Monday. The company intends to purchase the shares through the PSX at the current market price, in line with the Listed Companies (Buy-Back of Shares) Regulations, 2019. “The purchase of shares shall be made in cash and shall be out of the distributable profits as required under Section 88(8) of the Companies Act, 2017,” read the disclosure. According to the disclosure, the buyback will be executed over a period from May 7, 2026, to October 25, 2026, or until completion, whichever is earlier.