Riyadh – Mubasher: Ataa Educational Company’s board of directors recommended the initiation of legal procedures to buy back 2.10 million of its ordinary shares.
The company intends to hold the repurchased shares as treasury stock, as the board considers the current market price of the stock to be below its fair value.
The proposed buyback will be financed through the internal resources of the company. According to the disclosure, Ataa Educational currently holds 0% of its total shares as treasury stock.
The transaction is subject to approval by the Extraordinary General Assembly, the date of which will be announced later in accordance with the implementing regulations of the Companies Law for listed joint-stock companies.
Once the purchase is finalized, the treasury shares will not carry voting rights in shareholder meetings.
Ataa Educational confirmed it will fulfill all financial solvency requirements stipulated by the Capital Market Authority (CMA) and relevant regulatory frameworks before proceeding with the transaction.
The education provider witnessed an annual rise of 3.2% in revenue to SAR 661.28 million at the end of July 2026.
