IHC Begins Share Buyback Program Worth AED 5 Billion

International Holding Company (IHC), the largest listed company in Abu Dhabi, has launched a share buyback program worth up to AED 5 billion ($1.36 billion). The first tranche, valued at AED 1.8 billion, represents about 36% of the total, and the buyback process will begin on November 18. The program will last for one year, with an option for extension upon receiving regulatory approvals. The buyback will be executed in several tranches on a monthly or quarterly basis, with multiple purchase operations for each tranche. "International Securities" will exclusively manage and execute the buybacks.