We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Mon 12 Jan 2009 11:06 AM

Font Size

- Aa +

First Gulf Bank buys back 1.53mn shares

The Abu Dhabi bank says it has purchased shares at 9.51 dirhams ($2.59) after they fell 2.55% on Sunday.

First Gulf Bank said on Monday it had bought back 1.53 million shares on Sunday at 9.51 dirhams ($2.59) under a share buyback scheme.

In November, the bank won approval to buy back up to 10 percent of its shares within 12 months.

So far, it has bought back 7.43 million shares, First Gulf said in a statement on the Abu Dhabi bourse website. Sunday's purchase represented 0.1113 percent of total share capital, it said.

First Gulf shares fell 2.55 percent on Sunday to 9.55 dirhams. (Reuters)

Arabian Business: why we're going behind a paywall

Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.