Bupa Arabia completes SAR 7 mln share buyback for employee scheme
Bupa Arabia for Cooperative Insurance (Bupa Arabia) on September 4 purchased 75,916 of its own shares for its employees’ incentives program at an average price of SAR 97 per share, totaling SAR 7.36 million, the insurer said in a statement to Tadawul.
The incentive share purchase will cover a three-year financial performance cycle for the employees, which runs from Jan. 1, 2018 to Feb. 28, 2021.
As a result, Bupa Arabia currently holds a total of 305,623 shares in its employee incentive scheme.
The new shares purchase is not expected to have any material financial impact on financial results, the statement added.