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ASBISc Enterprises plcAsbis IT considers buyback; plans to enter more African markets in 2025, especially Egypt
Listed IT equipment distributor Asbis plans to enter more African markets in 2025, particularly Egypt, company representatives told a press conference. Asbis intends to focus on optimising financial costs and is also considering a buyback in addition to a dividend payment.
"This year we will be looking to enter more markets in Africa. We are particularly focused on Egypt," Asbis' CEO Serhei Kostevitch told the conference following the publication of the company's financial results.
"Over the last two years, Egypt has been out of our reach, falling out of the game due to unfavourable currency exchange regulations. However, these regulations have already been extinguished, so we are evaluating the possibility of entering this market as early as this year," he explained.
The CEO reported that the group is continuing with its dividend policy.
"We are also analysing the use of other possible instruments that are available in this area, such as, for example, buybacks, i.e. share buybacks," Kostevitch said.
"We have never practised this before, but we are analysing this possibility, as it is a way to give shareholders a greater share of the value of our company - combined also with a dividend," he added.
Asbis' CEO pointed out that with regard to the buyback, the company does not refer to any price and does not comment on it, and a potential share buyback would be directly on the market.
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