17-04-2025
Fakeeh Care retracts recommendation to repurchase shares due to regulatory reasons
Dr. Soliman Abdel Kader Fakeeh Hospital Co.'s (Fakeeh Care) board of directors decided to retract the previous recommendation to repurchase a part of its own shares, which was intended to be held as treasury shares.
In a statement to Tadawul, the company said the decision was made to avoid reducing public ownership below the minimum regulatory threshold.
Fakeeh Care affirmed its continued commitment to full compliance with applicable laws and regulations.
The number of shares proposed for repurchase represented approximately 0.45% of the company's total outstanding shares, which amount to 232 million shares, with a nominal value of SAR 1 per share.
The company's board of directors recommended on April 9 the repurchase of up to 1.04 million of its ordinary shares to be retained as treasury shares, Argaam data showed.
