BSF plans 2.86M share buyback to hold as treasury shares

04/04/2024 Argaam

BSF plans 2.86M share buyback to hold as treasury shares

Logo of Banque Saudi Fransi (BSF)

Banque Saudi Fransi (BSF) board of directors approved the repurchase of 2.86 million ordinary shares to be retained as treasury shares under the bank’s share-based employee remuneration plans, according to a statemen to Tadawul today, April 4.

 

The share buyback will be self-financed, said the bank.

 

It added that the treasury shares currently represent 0.68294% of the total share capital.

 

BSF received the Saudi Central Bank's (SAMA) no-objection on the share buyback earlier today.

 

The decision will be voted on in the next extraordinary general meeting (EGM), the date for which will be announced later, as per the executive regulations of the Companies Law for Listed Joint Stock Companies, and after satisfying solvency requirements by the bank as stipulated by law.

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