Saudi Azm proposes 1.2M treasury share buyback

17/08/2025 Argaam
Logo ofSaudi Azm for Communications and Information Technology Co.

Logo of Saudi Azm for Communications and Information Technology Co.

Saudi Azm for Communications and Information Technology Co. said that its board of directors recommended, on Aug. 14, the buyback of 1.2 million treasury shares maximum. These shares will be allocated for the employee stock program.


In a statement to Tadawul, the company explained that the repurchase process will be self-financed. Treasury shares currently stand at 1.24% of the target shares.

 

 

The repurchased shares will have no voting rights at shareholders’ meetings.

 

The company will seek approval for the buyback process during the next extraordinary general meeting (EGM) and will also satisfy the related solvency requirements.

 

The target shares represent 2% of Saudi Azm’s total 60 million shares, according to Argaam data.

 

Last month, the company transitioned to the Main Market.

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