Al Rajhi Takaful repurchases 300,000 shares for SAR 35.7M

Al Rajhi Takaful completes the buyback of 300,000 shares at an average price of SAR 119  per share

Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) completed the buyback of 300,000 shares, to be allocated for the employee stock incentive program (ESIP).

According to a statement to Tadawul, the repurchase plan was approved by shareholders during the extraordinary general meeting (EGM) held on June 3.

Al Rajhi Takaful purchased 300,000 shares at a total value of SAR 35.7 million, based on an average purchase price of SAR 119 per share.

According to Argaam data, Al Rajhi Takaful shareholders approved in June the buyback of up to 300,000 shares to be allocated to ESIP, funded from internal resources.