Saudi Hail Cement’s shareholders approve treasury holding of 4.9m shares

RIYADH: Saudi Hail Cement Co.’s shareholders approved the buyback of 4.9 million shares to keep them as treasury shares.

The shares will be held in treasury for up to 10 years, the cement producer said in a bourse filing.

The company said the financing of the purchase process will be done through its own resources, as well as its credit facilities.