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Egypt's EFG-Hermes says buys back 900,000 own shares

Thu Mar 26, 2009 12:07pm GMT
 

CAIRO (Reuters) - EFG-Hermes, Egypt's largest investment bank by market value, said on Thursday it bought back a quarter of the shares it had sought in a buyback programme.

The bank repurchased 900,000 out of 3.6 million treasury shares it had requested, it said on the stock exchange website.

It purchased the shares between February 22 and March 25 for between 12.39 Egyptian pounds and 12.76 pounds.

By 1123 GMT, EFG shares had gained 2.97 percent to 15.80 pounds.

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