Arab Finance: The board members of Bonyan for Development and Trade approved a treasury share buyback program for up to 4% of the company’s issued capital, according to a press release.
Bonyan’s stock trades at an enterprise value of EGP 88,500 per square meter, representing a roughly 50% discount to the value of its portfolio. This is assessed by an independent valuer approved by the Financial Regulatory Authority (FRA), based on the EGP 4.08 closing price on October 5.
Subject to regulatory rules and market conditions, the purchases will be carried out on the Egyptian Exchange (EGX) from October 7 to November 5, 2026.
CEO Tarek Abdelrahman commented: "At the current share price, Bonyan is trading at an implied enterprise value per sqm of EGP 88.5k, at half the current portfolio value. The recent sell-off in Bonyan stock, driven by the general investor aversion to the real estate development model, presents a unique opportunity for the company to buy back its shares at very attractive valuations."
He added: "Going forward, given the absence of the risks specific to the real estate development model, we believe Bonyan will emerge as one of the few companies providing exposure to the real asset class with maximum flexibility on size and liquidity given its unique landlord business model focused on asset appreciation and recurring rental revenues."
Bonyan recorded 1.65% year-on-year (YoY) higher net profits after tax at EGP 1.042 billion in the first half (H1) of 2026, compared to EGP 1.025 billion.
