ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
60. On-market (exchange) purchases
Edition: 2023-12-15 · In force
60. On-market (exchange) purchases
If a listed company intends to buy back its shares through on-market (exchange) purchases—(a)the maximum share buyback price of the shares to be purchased shall be ten per cent above the weighted price average of the shares during the period of thirty days before the day of the board resolution approving the share buyback; and(b)the minimum share buyback price of the shares to be purchased shall be the nominal price of the shares or the prevailing market price, whichever is higher, on the date of the board resolution approving the share buyback.