Americana Restaurants International, a fast-food operator in the Middle East, has repurchased approximately AED 3.6 million ($913,000) worth of shares.

The first buyback transaction included a total of 1.25 million shares at AED 2.685 per share, the company said in a disclosure on the Abu Dhabi Securities Exchange (ADX) on Monday.

Americana has recently obtained approval to buy back 25 million shares listed on the ADX.

The company intended to repurchase the shares under multiple tranches and allocate them to its employees.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com