Cairo – Mubasher: The Egyptian Exchange said it would open the OPR market to register both the selling and buying orders in respect to Madinet Nasr Housing Co. stocks buyback program.
The company announced earlier a stocks buyback program for 4 million shares at offer price of EGP 18.63 per share.
EGX will open the OPR market for two days, starting 10 to 11 February.
The firm pointed out that it will go for self-financing the stocks buyback program, noting that this move will not affect its operational activities.
Madinet Nasr Housing stated that its cash balance amounted to EGP 229.6 million by 31 December 2015.
The real estate developer’s net profits grew 15% y-o-y to EGP 215.2 million in 2014
