Akzo Nobel buyback price fixed at Rs 270 per share

The Voluntary Delisting Committee of Pakistan Stock Exchange has approved the minimum buyback price of Akzo Nobel Pakistan Limited at Rs 270.00 per share. The committee has also determined the minimum quantum of purchase of at least 6,178,511 ordinary shares (ie, 55 percent) out of total 11,233,655 ordinary shares outstanding with the minority shareholders, to qualify for delisting. Pakistan Stock Exchange had received a letter from Akzo Nobel Pakistan Limited seeking shares buyback by the sponsors and the voluntary delisting of the company.