Today's Edition
ABU DHABI (ALETIHAD)
Burjeel Holdings, a listed company on Abu Dhabi Securities Exchange, announced that its Board of Directors had authorised a share buyback programme of up to 10% of the group’s share capital.
The share buyback, to be conducted through open market purchases, will be fully funded through the Group’s operating cash flow, a statement from the company said.
Following the buyback, the management is evaluating various options for utilising the repurchased shares, including potential resale based on market conditions, allocation to long-term incentive plans, or other regulator-approved strategies that support broader capital management objectives.
John Sunil, Group CEO of Burjeel Holdings, said: "Burjeel Holdings is well-positioned to achieve its ambitious growth targets, in line with the strategic guidance provided to the market. With our strong operational performance and favourable market trends, we believe the Group’s intrinsic value is not yet fully reflected in its current market valuation. Recognising this opportunity, we proactively sought Board approval to explore a share buyback initiative. With this mandate secured, we will work closely with regulators and shareholders to finalise the buyback programme and ensure timely market updates upon receiving the necessary approvals."
