Space42 shareholders may benefit from a buyback programme that allows the UAE-based SpaceTech firm to repurchase up to 2.5% of its issued share capital, following approval from the Abu Dhabi Securities Exchange.
This initiative aims to demonstrate confidence in the company’s long-term prospects, as the firm believes its current share price does not accurately reflect its intrinsic value.
The buyback programme, which received shareholder endorsement during the General Assembly Meeting in April, will be financed entirely through Space42’s existing cash reserves and will be executed via open-market transactions.
The company has committed to adhering to regulations set forth by the ADX and the Capital Market Authority, with all completed transactions to be disclosed on the ADX website in compliance with market disclosure requirements.
Approval of this buyback is highlighted by recent positive financial performance, with Space42 reporting a 15% revenue increase in the first half of 2026, amounting to $260M, or Dh953M.
However, the firm has not specified the timing, purchase price, or the precise number of shares to be acquired, apart from the previously established cap of 2.5% of its issued share capital.
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