⚡ Flash Summary

Pakgen Power Limited’s shareholders approved a special resolution in their Extraordinary General Meeting (EOGM) on November 20, 2025, authorizing the company to buy back up to 185,000,000 of its issued ordinary shares. This represents approximately 49.72% of the total outstanding shares. The buy-back will be executed through the Pakistan Stock Exchange Limited at a price acceptable to the company during the purchase period. The shares acquired through this buy-back will be cancelled in accordance with the Companies Act, 2017 and relevant regulations.

📌 Key Takeaways

• ✅ Shareholders approved the buy-back of shares at EOGM on November 20, 2025.
• 🏢 Buy-back authorized under Section 88 of the Companies Act, 2017.
• 💰 Up to 185,000,000 ordinary shares can be bought back.
• 📊 Represents 49.72% of the total outstanding shares.
• 🇵🇰 Buy-back to be executed through the Pakistan Stock Exchange Limited.
• 💸 Shares will be bought at spot/current price acceptable to the company.
• 🗓️ Purchase period: November 28, 2025 to May 15, 2026, or until complete.
• ✂️ Purchased shares will be cancelled.
• 🔑 Company Secretary is authorized to take necessary actions.
• 📜 Special Resolution subject to amendments by the Commission.

🎯 Investment Thesis

BUY, as the share buy-back signals confidence from the management team in the company’s future. The reduction of outstanding shares through cancellation will increase EPS and could enhance valuation multiples. Given the current price, a reasonable price target of PKR 40 per share over the next 12 months seems appropriate, based on potential EPS increase and market sentiment.