Abu dhabi: Waha Capital PJSC announced on Wednesday that its proposed share buyback programme of up to 10 percent of the company's issued share capital has been approved by the Abu Dhabi Securities Exchange (ADX). This approval follows shareholder consent obtained at a General Assembly Meeting.

According to Emirates News Agency, the programme will be executed through open-market transactions in compliance with ADX and the Securities and Commodities Authority's (SCA) regulations. The pace and scale of purchases will be influenced by market conditions.

"This buyback reflects the Board's confidence in the company's outlook and our belief that the share price undervalues the intrinsic value of the company," stated Mohamed Hussain Al Nowais, Managing Director of Waha Capital. He emphasized that the share buyback programme represents a strategic and disciplined deployment of capital, aiming at long-term value creation and delivering meaningful returns to shareholders as the company progresses towards 2026.

The company has reported a 22 percent year-on-year increase in net profit to shareholders, amounting to AED343 million for the first nine months ending on 30th September 2025. This period marked one of its strongest nine-month financial results, attributed to robust performance across its business operations.