Abu Dhabi – Mubasher: Waha Capital has announced that it has bought back 1,770,000 of its shares at AED 2.37 per share.

The newly-bought stocks represent 0.09% of Waha’s total capital, the Company announced in a filing to the Abu Dhabi Securities Exchange (ADX), adding that the purchase was made on Tuesday, December 16, 2014.

This comes as an execution of the Board of Directors’ decision dated September 17, and which was approved by the Securities and Commodities Authority (SCA) on October 19.

Al Ramz Securities LLC acted as the broker for the buy-back transactions, Waha said in its statement, adding that the total buy-back represents 0.31% of the Company’s subscribed capital to date.

As per SCA’s approval, a total of 193,179,439 shares are to be bought back. To date, the total number of shares bought back by Waha is 6,027,151 shares, representing 0.31% of the Company’s capital. Remaining shares as per SCA’s approval amount to 188,424,317 shares.

Waha Capital was established in 1997 as a rental company, which shifted to an investment firm in 2008. Shareholders in Waha are mostly local businessmen added to the Abu Dhabi state-owned Mubadala Development Company. Waha Capital operates in owning, selling, renting and investing in all types of fixed and movable assets across the globe. Its capital amounts to AED 1.944 billion.

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