The board of directors of Nation Media Group (NMG) has made a rare announcement about a proposal to buy back up to 10% of its 18,854,229 ordinary shares. The announcement is in line with capital markets regulations which require a company to inform investors about a plan to buy back shares. A share buyback is a unique opportunity for a company to buy its own shares from the stock market. Share buybacks are relatively new in Kenya.
source: Kenyan Wall Street