Space42 wins ADX approval to buy back up to 2.5% of its shares
Company will fund the buyback from existing cash after first-half revenue rose 15%
Dubai: Space42 shareholders could see the company buy back up to 2.5% of its issued share capital after the UAE-based SpaceTech company secured approval from the Abu Dhabi Securities Exchange for the programme.
The buyback, which received shareholder approval at the company’s General Assembly Meeting in April, will be funded entirely from Space42’s existing cash resources and carried out through open-market transactions.
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The company said transactions will be executed in line with ADX and Capital and Market Authority regulations, with completed purchases disclosed through the ADX website in accordance with market disclosure requirements.
This buyback program reflects our confidence in Space42’s long-term future and our belief that the current share price undervalues the intrinsic value of the Company. It reinforces our commitment to deliver attractive returns to shareholders, in line with our Financial Framework, and represents a disciplined and efficient deployment of capitalKarim Michel Sabbagh, Managing Director of Space42
The programme allows Space42 to purchase its own shares from the market, with the maximum size capped at 2.5% of its issued share capital.
First-half revenue rises 15%
The approval comes after Space42 reported a 15% increase in revenue during the first half of 2026, reaching $260 million, equivalent to Dh953 million.
The company has not provided details in the announcement on the timing, purchase price or number of shares it intends to acquire under the programme beyond the approved limit of up to 2.5% of issued share capital.
