Thursday, June 20, 2024

International General Insurance ups size of share repurchase program by 2.5M shares

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Stock buyback and Share buybacks is shown using the text

Andrii Dodonov

  • International General Insurance Holdings (NASDAQ:IGIC) said on Tuesday that the board has increased the size of the insurer’s existing share repurchase program by 2.5M shares to 7.5M shares of the issued and outstanding common stock.
  • IGIC shares were trading -0.21% pre-market.
  • The prior 5M stock buyback program was announced in May 2022.
  • The company had 475,203 shares pending for purchase as of June 10 market close under the 5M share repurchase authorization, and now has 2,975,203 shares remaining under the 7.5M program.
  • The remaining repurchases are expected to be made at prevailing prices in the open market, in privately negotiated transactions, block trades, or other transactions.
  • Source: Press Release

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