Al Salam Bank B.S.C. Announces Share Buyback Program
Al Salam Bank B.S.C., a leading Islamic bank in the Kingdom of Bahrain, recently announced a share buyback program. This move is indicative of the bank's robust financial standing and its strategic approach to capital management.
Summary
The bank's share buyback program, approved on 15th August 2023, commenced on the same date and concluded on 12th November 2023. The program size was 10% of treasury shares. On 26th October 2023, 265,000 shares were bought at an average price of 0.181 fils, representing 1.604% of the issued capital. Approximately 219,720,000 shares remain for purchase.
Source
Summary
On 26th October 2023, Al Salam Bank B.S.C announced the purchase of 265,000 treasury shares from the Bahrain Bourse and Dubai Financial Market. This acquisition increased the bank's total holding of treasury shares from 41,699,191 to 41,964,191, representing 1.604% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain.
Summary
The text pertains to a share buyback program. The decision to purchase was not available. The competent authority approved the purchase on 15 August 2023. The buyback program started on the same date and ended on 12 November 2023. The program size was 10% of treasury shares. The purchase was made on 26 October 2023 with 265,000 shares bought at an average price of 0.181 fils. These shares represent 1.604% of the issued capital. Approximately 219,720,000 shares remain for purchase. The company involved is Al Salam Bank B.S.C. and the person authorized for this operation is Ali Yusuf Al Khaja.
