PHOTO
Regional fast-food operator Americana Restaurants has repurchased 2 million shares at an approximate price of at 5.36 million UAE dirhams ($1.46 million) in a third such buy back of shares to allocate them to its employees.
Shares have been purchased at AED 2.682 per unit price.
The buyback follows Monday’s purchase of 1.25 million shares under the share repurchase programme approved by the Securities and Commodities Authority (SCA) in May, followed by a second buyback of 1.13 million shares on Tuesday.
The ADX-listed company till date has bought back a total of 4,380,733 shares, according to a market filing, with a total of 20,619,267 remaining to be purchased.
(Writing by Bindu Rai, editing by Daniel Luiz)