Nairobi, Sept. 8 -- Centum Investment Company is taking a third stab at buying back 10 percent of its issued shares after previous attempts fell short due to the market price surpassing the buyback execution price.

The Nairobi Securities Exchange (NSE) listed investment firm is targeting 55.7 million shares in the third buyback, which is equivalent to 10 percent of its issued shares.

The company is asking shareholders to approve the buyback in its upcoming annual general meeting (AGM) on September 29, where it has assigned the offer at a minimum price of Sh15.10 and a maximum of Sh15.51 per share.

The buyback price cap however represents a 14.1 percent discount on the company's closing share price of Sh18.05 as of Monday, potentially e...