International Holding Company has announced a Dh5 billion share buyback programme, initiating with a Dh1.8 billion tranche, representing 36% of the total. The first tranche will commence on Monday, November 18, 2024. This programme, approved by IHC’s General Assembly on June 20, 2024, and endorsed by the Board, reflects IHC’s focus on enhancing shareholder value and optimising capital allocation.
The programme, which spans one year, allows for monthly or quarterly tranches. Each purchase is disclosed by ADX transparency requirements. International Securities LLC, the appointed brokerage firm, will manage and execute the buyback transactions.
“Launching the share buyback programme reaffirms our commitment to generating long-term value for our shareholders,” said Syed Basar Shueb, CEO of IHC. “With our robust cash flow and strong balance sheet, we are well positioned to implement this strategic initiative that reflects our confidence in IHC’s ongoing growth and market potential.
“This programme marks a significant step in optimising our capital structure while strengthening our position as a leader in sustainable value creation and growth.”
The buyback programme is designed to reinforce shareholder value, maintain an efficient capital structure, and support IHC’s growth trajectory, the company said in a statement on Thursday. As IHC continues to expand its portfolio, the share buyback programme is set to enhance shareholder returns and align with the Group’s long-term strategic vision.
