Karachi: Pakistan Cables Limited has announced a significant corporate move concerning its equity interests in Chinoy Engineering & Construction (Private) Limited (CECL). In a meeting held on September 3, 2026, the company's board of directors approved a proposal from CECL to repurchase the entire shareholding currently held by Pakistan Cables Limited in the engineering firm.

The company holds 4,845,000 ordinary shares in CECL, valued at PKR 10 each, which constitutes 17% of the latter's total issued and paid-up share capital. CECL has proposed a buy-back price of PKR 72.24 per share, culminating in a total transaction value of approximately PKR 350 million.

According to information available from the Pakistan Stock Exchange (PSX), this move by Pakistan Cables Limited marks a decisive shift in its investment strategy. The transaction is contingent upon obtaining necessary corporate, regulatory, and shareholder approvals. Additionally, the completion of required documentation and formalities is essential for the transaction to proceed.

Once the buy-back is finalized, Pakistan Cables Limited will no longer hold any shares in Chinoy Engineering & Construction. The company has committed to providing further updates in compliance with legal and regulatory requirements, should any significant developments occur regarding this transaction.