The Pakistan Stock Exchange (PSX) has ordered mandatory share buybacks in Haseeb Waqas Sugar Mills Limited (PSX: HWQS), Dadabhoy Construction Technology Limited (PSX: DCTL), and Imperial Limited (PSX: IML) after failure to clear outstanding dues.
Majority shareholders must provide an exit to minority investors within 90 days, by July 20, 2026.
PSX said it will set the buyback rates itself.
HWQS was flagged for continued default despite prior regulatory warnings, including a Risk Warning Alert issued in April 2026.
PSX warned that non-compliance with the buyback order could trigger referral to SECP for winding-up proceedings, with eventual delisting upon completion.
DCTL was penalized for non-payment of listing fees for two years, although it has made partial compliance efforts such as holding delayed meetings and submitting audited financials. However, operational suspension and audit concerns kept it in the Non-Compliant and Winding-Up category.
IML was also directed to initiate a buyback after failing to settle listing and supervisory fees within the extended deadline that expired on April 20, 2026.
PSX added that failure to execute the buybacks within the timeline will result in referring the case to SECP for potential winding up of the companies.
