MIS clarifies purpose of share buyback plan

12/10/2023 Argaam

MIS clarifies purpose of share buyback plan

Logo of Al Moammar Information Systems Co. (MIS)

Al Moammar Information Systems Co. (MIS) said its plan to buy back 300,000 shares to be retained as treasury shares stems from the board's belief that the company's stock price is less than its fair value, according to a Tadawul filing today, Oct. 12.

 
The Tadawul-listed stock closed today at SAR 131.0 per share.
 
The 300,000 shares to be repurchased account for 1% of the company’s 30 million share capital that is valued at SAR 300 million.

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