Tawuniya completes buyback of treasury shares
The company repurchased 199,862 shares at a total value of SAR 28.77 million, according to a Tadawul statement. The average purchase price per share was SAR 143.68.
According to data available on Argaam, Tawuniya's shareholders approved the repurchase of 199,860 shares maximum, to be allocated for the employees' incentive program.
They also authorized the board of directors to complete the buyback process within 18 months from the EGM date.
The share buyback will be financed from the company's cash. Tawuniya will retain the repurchased shares for a maximum of 10 years, after which it will comply with the relevant laws and regulations.
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