Abu Dhabi – Mubasher: Abu Dhabi National Company for Building Materials (BILDCO) on Thursday announced that its board has approved share buyback of up to 10% of its capital for reselling.
The board authorised the company’s executive management to communicate the UAE’s Securities and Commodities Authority (SCA) to obtain its approval for holding an ordinary general meeting (OGM) to permit the buying transaction, according to a filing to the Dubai Financial Market (DFM).
In December, BILDCO’s board assigned the company’s executive management to conduct the required studies for a bond issuance.