OSK (KLSE:OSK) issued a notice to its shareholders seeking approval for a proposed share buyback program.

Under the plan, the company may repurchase up to 10% of its total issued shares, equivalent to 314.3 million shares, based on the current issued share capital of 3.14 billion, according to a Wednesday Malaysian bourse filing.

As of the latest practicable date, the company already holds 49.8 million shares as treasury stock, leaving a balance of 264.5 million shares that can still be repurchased.

The timing and volume of the buyback will depend on market conditions, stock sentiment, and the company's available financial resources, it said.