SCA nods to Bildco request for 10% buyback

Abu Dhabi – Mubasher: Abu Dhabi National Company for Building Materials (Bildco) announced that the UAE Securities and Commodities Authority (SCA) has approved its request to buy back 10% of its shares for reselling.

Bildco added that it is fulfilling the required procedures in order to complete the purchasing transaction, according to a statement released on Tuesday.

In January, the Abu Dhabi-listed company revealed that its board had approved a share buyback of up to 10% of its capital for reselling.