Egyptian Media Production City to buy up to 10% in treasury stocks

Egyptian Media Production City to buy up to 10% in treasury stocks: The Egyptian Media Production City's board of directors has agreed to buyback 10% of the company’s shares over the next three months, according to a regulatory disclosure (pdf). A handful of companies have launched an unprecedented wave of buybacks over the past three months in response to the market turbulence that came in the wake of the covid-19 pandemic. The Financial Regulatory Authority eased rules in March allowing companies to complete same-day buybacks in a bid to support share prices.