DAE repurchases US$100 million of common shares

Dubai Aerospace Enterprise (DAE) has announced that it had repurchased outstanding common shares worth US$100 million.

Firoz Tarapore, Chief Executive Officer of DAE, commented:

"The strength of our franchise, capital position and liquidity profile provides us the flexibility to accurately calibrate the capital we need to support the current and future needs of our growing business with maintaining appropriate margins and returns. We expect this transaction to have no material impact on our capital adequacy metrics at year-end 2020 and in 2021."

News Source: https://www.wam.ae/en/details/1395302898815