Dubai – Mubasher: SHUAA Capital on Wednesday announced repurchasing 1 million of its shares as part of a buyback programme.
Integrated Securities carried out the repurchase on Monday, 31 December at AED 0.82 per share, SHUAA said in a filing to the Dubai Financial Market (DFM).
SHUAA’s board had approved the buyback programme in August. It was later reapproved by the Securities and Commodities Authority (SCA) on 19 September.
In recent months, SHUAA has repurchased 24.56 million of its shares out of a total of 100 million.
Dubai-listed SHUAA last reported a 31% profit rise to AED 30.1 million ($8.20 million) in the third quarter of 2018, its highest quarterly profit in a decade.
