EKH to continue buying up to $20mln treasury shares

The purchase transactions should be implemented until February 28

  

ArabFinance: The board of Egypt Kuwait Holding (EKH) agreed to go on with purchasing up to $20 million (EGP 313.22 million) of treasury shares, according to a January 13thdisclosure.

The purchase transactions should be implemented until February 28th, EKH noted.

The company has bought 8.04 million shares at a value of $8.2 million (EGP 128.41 million) until press time, based on previous decisions last year on March 2nd and July 15th.

The purchased amount should not exceed 10% of EKH’s capital value, the statement added.

Last month, the company’s shareholders approved a capital hike to $281.72 million (EGP 4.41 billion).

*At press time, the conversion rate is $1 = EGP 15.66

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