Lucky Cement cancels 20.3 million shares after completing 2nd buy back
In a notification sent to the PSX on 30/11/2023, Lucky Cement (LUCK) confirmed the buyback and cancellation of 20,375,000 shares of the company after completing its 2nd buyback program.
After the cancellation of these shares, the company’s issued and paid-up share capital is Rs. 2,930,000,000/- dividend into 293,000,000 shares of Rs. 10 each. LUCK had announced its plans to buy back 23.8 million shares earlier in the year but could only buy back 20.75 million shares before the last date. This was the second buyback this year, with the first one amounting to buyback and cancellation of 10 million shares earlier in the year.