Cairo – Mubasher: Egypt for Poultry said Wednesday that it will buy back 10% of the company’s treasury shares, or 4.73 million shares, at EGP 7.95 million, according to a bourse filing.

The Egyptian Exchange will open the OPR market up till 19 July 2016 for the buy-back, said the company, attributing this move to potential cash flow from investing opportunities and lower stock’s market value.

The stock quote opened 5.41% higher to EGP 1.56 in Wednesday’s early trading session.

Over the fiscal year 2015/16, the company registered EGP 1.17 million profits, compared with EGP 972,900 a year earlier.

The company's fiscal year extends from the first of April to March.