Habib Sugar Mills Decides to Buy Back 15 Million Shares

Habib Sugar Mills Limited (PSX: HABSM) has decided to buy back up to 15 million shares of the company, it informed the Pakistan Stock Exchange on Tuesday. The Board of Directors of Habib Sugar Mills Limited has decided “to recommend to the members of the Company for their approval by passing of special resolutions, the purchase/buy-back of up to 15,000,000 (Fifteen Million) issued ordinary shares of the Company (constituting 10% of the current issued ordinary share capital) of the face value of PKR 5/- (Pak Rupees Five) each, by the Company”. The Company is engaged in the manufacturing and marketing of refined sugar, ethanol, liquefied carbon dioxide (CO2), and household textiles, providing bulk storage facilities, and trading of commodities.