Abu Dhabi – Mubasher: Waha Capital has announced that it has bought back 3,902,628 of its shares at AED 2.55 per share, on Wednesday, December 17, 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.

The newly-bought stocks represent 0.20% of Waha’s total capital, the Company announced in a filing to the Abu Dhabi Securities Exchange (ADX).

Al Ramz Securities LLC acted as the broker for the buy-back transactions, Waha said in its statement, adding that the total buy-back to date represents 0.51% of the Company’s subscribed capital to date.

To date, the total number of shares bought back by Waha is 9,929,779 shares, representing 0.51% of the Company’s capital. Remaining shares as per SCA’s approval amount to 184,521,689 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.

Photo Credit: Arabianeye-Reuters