Fakeeh Care withdraws share buyback plan over regulatory concerns

17/04/2025 Argaam
One ofDr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) hospitals

One of Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) hospitals

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) said its board of directors has withdrawn a previous recommendation to repurchase a portion of the company’s shares to be held as treasury stock.

 

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In a statement to Tadawul, the company said the decision was made to avoid reducing public ownership below the minimum regulatory threshold.

 

Fakeeh Care affirmed its continued commitment to full compliance with applicable laws and regulations.

 

The proposed buyback involved around 1.04 million ordinary shares, equivalent to approximately 0.45% of the company’s 232 million outstanding shares, each with a nominal value of SAR 1, according to data compiled by Argaam.

 

The board had issued the recommendation on April 9.

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