Qatar Navigation (Milaha) Q.S.C. today announced that it has received an approval from the Qatar Financial Markets Authority (QFMA) with regards to the company’s share re-purchase program.
Milaha’s Board of Directors had previously approved the share re-purchase program of up to 5% of the outstanding shares of the company. Now that the company has obtained the necessary approvals, the program will be implemented. The company plans to fund this re-purchase by using its significant investment portfolio.