Corporate share buyback is repurchasing of shares by the company that issued them. Advertisement“Through this buyback we believe shareholders will realise value and cash in at a reasonable price,” Wilfred Kiboro, the Group’s chairman said last week. “Last year was a difficult year and NMG share price went down from about Ksh40 ($0.37) at close of 2019 to Ksh16 at the end of 2020. According to Kiboro, NMG share price at the NSE has been undervalued and has not reflected the media house’s performance and long-term strategy. East Africa’s largest media company has rolled out a two-pronged approach to sustain growth that includes renewed digital presence with the launch of Nation.

Source: Daily Nation July 06, 2021 09:21 UTC