Riyad Bank finalizes 5 mln share buyback for employee incentive program

09/08/2023 Argaam
Logo ofRiyad Bank

Logo of Riyad Bank 


Riyad Bank announced today, Aug. 9, completion of the repurchase of shares allocated for the employee stock incentive program, according to a statement to Tadawul.

 

Details

Number of Repurchased Shares

5 mln

Value of Repurchased Shares

SAR 165.91mln

Average Share Purchase Price

SAR 33.18

Purchase Period

No more than 12 months from the date of the extraordinary general meeting’s (EGM) approval 

 

The bank's shareholders approved, on March 27, the repurchase of five million shares as treasury shares, to be allocated for employee stock incentive program.

 

The buyback was agreed to be financed by the bank’s own resources, with the repurchased shares to be kept no longer than seven years from the date of that approval. Afterwards, the bank will follow the applicable regulations, according to Argaam's data.

Comments {{getCommentCount()}}

Be the first to comment

loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.