Bupa Arabia completes SAR 7 mln share buyback for employee scheme

04/09/2018 Argaam

 

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.

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