Logo ofUnited Electronics Co. (eXtra)
United Electronics Co.’s (eXtra) board in its meeting held on Wednesday, recommended repurchasing the company’s shares to be retained as treasury shares, with a maximum of 3 million ordinary shares, according to a statement to Tadawul. 
eXtra’s board indicated that the stock’s current market price is below its fair value. The share buyback will be funded from the company’s internal resources and proceeds from the successful initial public offering of its subsidiary, United International Holding Co.
Treasury shares currently represent 4.40% of eXtra’s total shares targeted for repurchase. Repurchased shares do not have voting rights in shareholders’ meetings.
Extraordinary general meetings should approve the share buyback decision, in addition to the repurchase compliance with the financial solvency terms stipulated in the executive regulations of the Companies Law applicable to listed joint-stock companies.
Logo ofUnited Electronics Co. (eXtra)
United Electronics Co.’s (eXtra) board in its meeting held on Wednesday, recommended repurchasing the company’s shares to be retained as treasury shares, with a maximum of 3 million ordinary shares, according to a statement to Tadawul.
eXtra’s board indicated that the stock’s current market price is below its fair value. The share buyback will be funded from the company’s internal resources and proceeds from the successful initial public offering of its subsidiary, United International Holding Co.
Treasury shares currently represent 4.40% of eXtra’s total shares targeted for repurchase. Repurchased shares do not have voting rights in shareholders’ meetings.
Extraordinary general meetings should approve the share buyback decision, in addition to the repurchase compliance with the financial solvency terms stipulated in the executive regulations of the Companies Law applicable to listed joint-stock companies.
