Al Salam Bank B.S.C: A Strategic Acquisition and a Promising Future
An in-depth analysis of Al Salam Bank B.S.C's recent treasury shares purchase and its implications on the bank's future prospects.
Summary
Al Salam Bank B.S.C has recently announced the acquisition of 150,000 treasury shares, increasing its total holding to 44,106,534. This strategic move, coupled with the bank's robust financial standing and innovative approach, suggests a promising future for the Bahrain-based Islamic bank.
Source
Summary
The board of directors made a decision to purchase shares, but the date is not available. The competent authority approved the purchase on 15 August 2023. The buyback program for treasury shares began on the same date and ended on 12 November 2023. The size of the buyback program was 10%. The purchase took place in November 2023, involving 150,000 shares at an average price of 0.180 fils each. This represented 1.685% of the issued capital. Approximately 217,600,000 shares remain for purchase. The company involved is Al Salam Bank B.S.C, represented by Ali Yusuf Al Khaja.
Summary
On 6 November 2023, Al Salam Bank B.S.C announced the purchase of 150,000 treasury shares on the Bahrain Bourse. This acquisition increased the bank's total holding of treasury shares from 43,956,534 to 44,106,534, equivalent to 1.685% of the issued share capital. The bank is licensed and regulated as an Islamic Retail Bank by the Central Bank of Bahrain and is based in Manama, Bahrain.
