Najran Cement completes first phase of share buyback

Logo of Najran Cement Co.

Najran Cement Co. said in a statement to Tadawul that it completed the first phase of its share buyback process during the first half of 2025, and it will continue the buyback during the second half of 2025, based on market conditions at the time.

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The cement producer repurchased 4.25 million shares, or 2.50% of its outstanding shares, at SAR 35.86 million, or SAR 8.44 each.

The buyback was based on the board’s recommendation to repurchase 10% of the company's shares and retain them as treasury shares. Shareholders approved on Dec. 22, 2024, to repurchase and retain the shares for a maximum period of 10 years. After this period, the company will follow the procedures and controls stipulated in the relevant laws and regulations.

The share buyback aims to improve shareholders' equity in the short and long term by reducing the number of floating shares, which will lead to higher earnings per share and strong cash flow per share to existing shareholders.