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Cairo Oils approves buying 1m treasury stocks

Cairo Oils approves buying 1m treasury stocks
(Photo credit: Arabianeye - Reuters)
Cairo Oils & Soap
COSG
2.88% 0.36 0.01

Cairo – Mubasher: Cairo Oils and Soap’s board of directors has agreed to purchase 1 million treasury stocks at a price of EGP 15.30 per share.

Regardless of whether the shares will be sold at higher prices or written off, the move will have a positive impact on the company’s shareholders, according to a bourse statement released on Tuesday.