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Abu Dhabi-based conglomerate International Holding Company (IHC) has announced the launch of the first tranche of approximately AED 1.8 billion ($49 million) share buyback programme.
Purchases under the buyback programme of up to AED 5 billion will begin today.
The initial tranche represents 36% of the total authorised buyback programme, Abu Dhabi’s largest listed company said.
IHC has a diversified portfolio spanning sectors including energy, healthcare, food, real estate and technology.
(Writing by Brinda Darasha; editing by Seban Scaria)
