ADVOKS GLOBAL · KENYA
The Capital Markets (Public Offers, Listings and Disclosures) Regulations, 2023
63. Volume of shares to be purchased in a share buy-back transaction
Edition: 2023-12-15 · In force
63. Volume of shares to be purchased in a share buy-back transaction
(1)The volume of the shares bought back by a listed company on any single day in a share buy-back transaction shall not exceed twenty-five per cent of the total trading volume of the issuer or such other limit as may be prescribed by the Authority by notice.(2)The limit prescribed under subregulation (1)—(a)shall be based on the liquidity of the shares in the market of the average daily trading volume for the four calendar weeks preceding the week of the purchase; and(b)shall not be executed as to significantly adversely affect the liquidity of the shares in question.(3)The share buyback shall not be effected during the pre-open session of the trading of the shares of the listed company.