Nishat Chunian Limited (PSX: NCL) has proposed buying back up to 21 percent of its outstanding shares, or 50.42 million ordinary shares, subject to shareholder approval.

The company’s board approved the proposal on October 21, 2026. Shareholders will consider it at an Extraordinary General Meeting scheduled for November 20, 2026.

According to a disclosure submitted to the Pakistan Stock Exchange (PSX), Nishat Chunian plans to purchase the shares through the stock exchange at the prevailing market price. Each share has a face value of Rs. 10, and all shares acquired under the buyback will be cancelled.

The proposed buyback period will begin on November 28, 2026, and end on May 19, 2027, or when the company completes the purchase, whichever comes first.

Nishat Chunian plans to finance the buyback from its distributable profits in line with the Companies Act, 2017.

The company said the buyback could improve earnings per share by reducing the number of shares in circulation. It would also give shareholders seeking to sell their holdings an opportunity to exit their investments.

The proposal is still subject to shareholder approval at the November 20 meeting. Nishat Chunian has not set a fixed purchase price, saying the shares will be bought at the prevailing market rate on the PSX.