SADAFCO to discuss repurchase of 2.75 mln shares in December

07/11/2019 Argaam

Saudia Dairy and Foodstuff Co. (SADAFCO) shareholders will discuss, on Dec. 3, 2019, buying back 8.46 percent of its own shares, or 2.75 million, over a period of 12 months, the company said in a bourse statement.

 

Shareholders will also discuss holding these shares as treasury shares for five years.

 

The buyback process will be financed from the company’s internal resources, the statement added.

 

The company currently holds 1.53 percent, or 500,250 shares, as treasury shares.

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