Seera Holding completes SAR 563.6M share buyback

Logo of Seera Group Holding

Seera Group Holding announced the completion of the company’s share repurchase process for retaining them as treasury shares, according to a statement to Tadawul.

This followed approval from the extraordinary general meeting (EGM) on May 30, 2024, with a total cost of SAR 563.55 million.

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The company said that the buyback details include: a 12-month purchase period from the EGM’s decision date; 23.92 million shares bought, representing 7.97% of total shares; SAR 563.55 million spent; and an average purchase price of SAR 23.56 per share, the statement added.

The buyback is part of Seera Holding’s capital allocation strategy announced on Nov. 8, 2023.

The goal is to increase free cash flow per share, maximizing long-term returns and boosting market confidence in achieving its goals and restructuring its investment portfolio in line with its future plans.