Dubai: It’s the share buyback season in the UAE and Gulf stock markets, with DFM-listed investment firm Amanat being the latest. The company, which is launching a dedicated healthcare entity, plans to buy back up to 5 per cent its capital.

Not only that, it will do so at a premium – Dh1.08 a share - to its current trading price of Dh0.95. The offer price is also close to its 52-week high of Dh1.09.

Share buybacks have not been hugely popular in the UAE/Gulf markets, even in instances where the stocks have had tepid investor support and more or less remain unchanged. But with three companies in the Gulf currently running some buyback programme, things are changing.

Apart from Amanat, there is Gulf Finance House of Bahrain and the Dubai-headquartered, FTSE-listed payment processing firm Network International.

More to follow...