BUY

⚡ 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.

⚡ Flash Summary

Pakgen Power Limited (PKGP) has announced a buy-back of its shares in accordance with the Listed Companies (Buy-Back of Shares) Regulations, 2019. The company intends to purchase up to 185,000,000 ordinary shares, representing 49.72% of the total outstanding shares. This buy-back is for the purpose of cancellation of shares. The buy-back period will commence on November 28, 2025, and will continue until May 15, 2026, or until the purchase is complete, whichever is earlier.

📌 Key Takeaways

• 📢 Pakgen Power Limited (PKGP) announces share buy-back.
• 📅 Buy-back announcement dated November 20, 2025.
• 📜 Compliant with Listed Companies (Buy-Back of Shares) Regulations, 2019.
• 🎯 Purpose: Cancellation of shares.
• 💰 Buy-back of up to 185,000,000 ordinary shares.
• 📊 Represents 49.72% of total outstanding shares.
• 🗓️ Buy-back period: November 28, 2025 to May 15, 2026.
• 🏢 Registered office: Nishat House, 53-A, Lawrence Road, Lahore.
• 🏦 Securities Exchange: Pakistan Stock Exchange Limited.
• 👤 Authorized officer: Khalid Mahmood Chohan, Company Secretary.
• 📞 Contact: +92 42 111 11 33 33.
• 📧 Email: khalidchohan@pakgenpower.com.
• 👤 Contact person for queries: Mr. Tanvir Khalid, CFO.
• 📞 Contact: +92 42 35717091-96.
• 📧 Email: tanvir@nishatpower.com.

🎯 Investment Thesis

A BUY recommendation is appropriate due to the potential for increased EPS and positive market sentiment following the buy-back. Price target: To be determined based on further financial analysis. Time horizon: Medium term (6-12 months).

⚡ Flash Summary

Pakgen Power Limited’s shareholders approved a special resolution in an Extra Ordinary General Meeting (EOGM) held on November 20, 2025. The resolution authorizes the company to buy back up to 185,000,000 of its issued ordinary shares, representing 49.72% of the total outstanding shares, through the Pakistan Stock Exchange. The buy-back period is set from November 28, 2025, to May 15, 2026, or until the purchase is complete, whichever is earlier. Shares purchased will be canceled, and the Company Secretary is authorized to take necessary actions to implement the buy-back.

📌 Key Takeaways

• ✅ Shareholders approved the buy-back of shares at EOGM on November 20, 2025.
• 🏢 Company is authorized to buy back up to 185,000,000 ordinary shares.
• 📈 This represents 49.72% of total outstanding shares.
• 🇵🇰 Buy-back will be executed through Pakistan Stock Exchange Limited.
• 🗓️ Buy-back period: November 28, 2025, to May 15, 2026 (or until completion).
• 💰 Shares have a face value of Rs. 10 each.
• 🗑️ Purchased shares will be cancelled as per regulations.
• 🔑 Company Secretary is the Authorized Officer for the buy-back.
• 📜 Actions related to the buy-back are binding deeds of the Company.
• ⚖️ Special Resolution is subject to amendments directed by the Commission.
• 📍 EOGM held at Emporium Mall, Lahore at 11:30 A.M.

🎯 Investment Thesis

A ‘BUY’ recommendation is given based on the company’s decision to execute a significant share buy-back, indicating financial strength and confidence in future performance. The buy-back is expected to positively influence EPS and ROE, enhancing shareholder value. The price target is based on an anticipated increase in EPS due to the reduced share count, combined with a conservative price-to-earnings (P/E) multiple of 8x. The time horizon is set for medium-term (6-12 months), considering the buy-back execution period.