Dallah Healthcare plans to buy back 3.92% of shares as treasury shares

20/09/2023 Argaam

Dallah Healthcare plans to buy back 3.92% of shares as treasury shares

Logo of Dallah Healthcare Co.

Dallah Healthcare Co.’s board of directors approved on Sept. 19 buyback of up to 3.82 million shares, or 3.917% of total ordinary shares, to retain them as treasury stock. 

                                               

The repurchase aims to cover future swaps, if any, for acquisitions or asset purchases, the healthcare services provider said in a statement to Tadawul.

 

The buyback will be financed by the company’s internal resources, Dallah added, noting that it currently holds no treasury shares.

 

The decision is subject to the approval of the upcoming extraordinary general meeting.

 

The repurchased shares will have no voting rights, the statement added.

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