Abu Dhabi – Mubasher: Dana Gas, a leading gas company based in Sharjah, announced it has purchased 500,000 shares on 7 October 2019.

This comes as part of the company’s buy-back programme previously approved by the UAE’s Securities and Commodities Authority (SCA) on 20 May 2019, according to a filing to the Abu Dhabi Securities Exchange (ADX).

The average price of each purchase transaction stood at AED 0.942, Dana Gas said.

The purchased shares accounted for 0.00715% of the total subscribed shares, the ADX-listed company added.

The transactions have been executed through the Egypt-based investment bank EFG Hermes, the company highlighted.

The number of the unpurchased shares as per the SCA’s approval stood at around 684.276 million shares, Dana Gas noted.