SAIC illustrates purpose of share buyback plan

17/07/2022 Argaam

Logo of Saudi Advanced Industries Co. (SAIC)

Saudi Advanced Industries Co. (SAIC) said that its plan to buy back treasury shares will take place if the board of directors or the person so authorized deems that the share market price is less than its fair value, the company said in a bourse filing.

 

Last month, SAIC’s board approved the repurchase of no more than 2.5 million shares, or 5% of the company's capital, within 12 months to be retained as treasury shares, Argaam reported earlier.

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