Bupa Arabia plans 860,000 share buyback for employees’ incentive program

Logo of Bupa Arabia for Cooperative Insurance Co.

Bupa Arabia for Cooperative Insurance Co.’s board of directors recommended today, June 9, the repurchase of up to 860,000 of its ordinary shares for allocation to the employees’ long-term incentive program.

The company said in a statement on Tadawul that the shares will not have voting rights at shareholder meetings.

For more news on listed companies

The repurchase will be financed by Bupa Arabia’s own resources.

The insurer holds 0.01% of treasury shares out of the total class of buyback shares.

The board’s recommendation will be presented to the upcoming extraordinary general meeting (EGM), which will be announced later.