Alinma Bank completes 5 mln share buyback

Logo of Alinma Bank 

Alinma Bank completed the repurchase of five million treasury shares, to be allocated to the Employees Stock Incentive Shares Plan, at SAR 33.27 each, totaling SAR 166.33 million, according to a Tadawul statement.

The repurchase period was set at 12 months from the approval of the extraordinary general meeting (EGM) dated April 30, 2023.

Shareholders earlier approved the buyback of five million shares maximum, to be earmarked for the program, and to be financed by the bank’s internal sources, as reported by Argaam.