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Shuaa Capital wins approval for shares buyback

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Thursday, 20 November 2008
SHARES BUYBACK: Shuaa Capital has won approval to buy back 10 percent of shares. (Getty Images)
SHARES BUYBACK: Shuaa Capital has won approval to buy back 10 percent of shares. (Getty Images)

Dubai-listed investment bank Shuaa Capital has received regulatory approval for a plan to buy back 10 percent of its shares as Gulf Arab stock markets extend weeks of declines.

The UAE stock markets regulator said in a statement on the Dubai bourse website that Shuaa had approval to buy back 55 million shares.

It did not say when the buyback would begin. Shuaa's board agreed in October to request the measure after shares fell. (Reuters)

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READERS' COMMENTS

Strike Price
Posted by Karan, Kuwait City, Kuwait on Thursday 20 November 2008 at 19:51 UAE time


When an announcement like this is made it must be accompanied with a strike price and a completion date. Without these, just like Emaars announcement, it is meaningless publicity.

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