Logo of United Electronics Co. (eXtra)
United Electronics Co. (eXtra) plans to repurchase up to 2.49 million of its ordinary shares to hold as treasury shares. 
In a Tadawul filing, the company said its board of directors recommended the buyback on Aug. 3, believing the company’s market price is below its fair value.
The repurchase will be financed through the company’s own resources. Treasury shares currently represent 6.88% of the total class of shares subject to the buyback.
The company noted that the transaction remains subject to approval by the extraordinary general meeting and compliance with the financial solvency requirements under the Executive Regulation of the Companies Law for Listed Joint Stock Companies. The repurchased shares will not carry voting rights at shareholders’ meetings.
According to Argaam data, the planned buyback represents approximately 3.12% of the company’s total 80 million outstanding shares.
Logo of United Electronics Co. (eXtra)
United Electronics Co. (eXtra) plans to repurchase up to 2.49 million of its ordinary shares to hold as treasury shares.
In a Tadawul filing, the company said its board of directors recommended the buyback on Aug. 3, believing the company’s market price is below its fair value.
The repurchase will be financed through the company’s own resources. Treasury shares currently represent 6.88% of the total class of shares subject to the buyback.
The company noted that the transaction remains subject to approval by the extraordinary general meeting and compliance with the financial solvency requirements under the Executive Regulation of the Companies Law for Listed Joint Stock Companies. The repurchased shares will not carry voting rights at shareholders’ meetings.
According to Argaam data, the planned buyback represents approximately 3.12% of the company’s total 80 million outstanding shares.
