Bupa Arabia buys shares worth SAR 4 mln for employee scheme

Bupa Arabia for Cooperative Insurance (Bupa Arabia) purchased 45,900 of its own shares on June 12 for its employees’ incentives program at an average price of SAR 89.98 per share, totaling SAR 4.13 million, the insurer said in a statement to Tadawul on Wednesday.

The incentive share purchase will cover a three-year financial performance cycle for the employees, which runs from Jan. 1, 2018 to Feb. 28, 2021.

As a result, Bupa Arabia currently holds a total of 229,707 shares in its employee incentive scheme.

The new shares purchase is not expected to have any material financial impact on financial results, the statement added.