ZAWYA: Abu Dhabi’s IHC shareholders approve $1.36bln share buyback

About this update from International Holding Company Pjsc

Staff WriterAbu Dhabi conglomerate International Holding Company (IHC) is set to proceed with the plan to buy back shares for up to AED 5 billion ($1.36 billion).The buyback proposal obtained the approval of shareholders at the Annual General Assembly on Monday, March 16, according to a disclosure. The repurchase constitutes 0.6% of the company’s total shares.The board of directors is now authorised to take all necessary resolutions to implement the repurchase.The share buyback will be implemented in coordination with the Capital Market Authority and the Abu Dhabi Securities Exchange.(Writing by Cleofe Maceda; editing by Seban Scaria) [email protected]: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.

View stock analysis, news, and events for International Holding Company Pjsc