Kenya’s Nation Media Group gets regulatory approval for share buyback

Nation Media Group board of directors recommended that the firm’s shareholders effect the Share Buyback plan by way of open market purchases through on the Nairobi Securities Exchange. NMG share price has been declining for the past 5 years and since the announcement the share price increased by nearly 90 per cent that’s in contrast to the 60 per cent decline on the market cap in 2020. Robert Karuiyi, Investment Research Analyst at Cytonn joins CNBC Africa on more.

Mon, 31 May 2021 10:15:26 GMT
Sign Up for Our Newsletter Daily Update
Get the best of CNBC Africa sent straight to your inbox with breaking business news, insights and updates from experts across the continent.
Get this delivered to your inbox, and more info about about our products and services. By signing up for newsletters, you are agreeing to our Terms of Use and Privacy Policy.