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.
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