Riyadh – Mubasher: Bupa Arabia for Cooperative Insurance on Tuesday announced completing the repurchase of its shares on Monday, 29 May, for an employee incentive scheme.

The insurance firm bought back 96,491 shares at an average price of SAR 114.61 per share, making the total value of the repurchased shares SAR 11.06 million, Bupa said in a filing to the Saudi Stock Exchange (Tadawul).

“These 96,491 new employee incentive shares are for the financials for the three-year financial performance cycle of 2017-2019, which starts 1 January 2017 and ends 28 February 2020,” Bupa said in its statement.

Following the completion of the repurchase programme, Bupa Arabia currently holds 247,381 shares for its employee incentive scheme.

The programme buyback is in line with the company’s decision on Monday, 8 May.

By 12:44 pm Saudi time, Bupa’s stock grew 0.43% to SAR 115.50.