UAE-based SpaceTech company Space42 has received Abu Dhabi Securities Exchange (ADX) approval for a share buyback programme covering up to 2.5% of its issued share capital.
The programme follows shareholder approval at the company’s April General Assembly meeting. It will be funded from Space42’s existing cash resources and carried out through open-market transactions in line with ADX and applicable Capital and Market Authority regulations.
Space42 said completed buybacks will be disclosed regularly through the ADX website, as required under market disclosure rules.
Managing Director Karim Michel Sabbagh said the programme reflects the company’s confidence in its long-term outlook and its view that the current share price does not reflect its intrinsic value. He added that the move is intended to support shareholder returns while maintaining disciplined capital deployment.
The announcement follows Space42’s first-half 2026 results, which showed a 15% increase in revenue to $260M, equivalent to AED953M.
Source: Zawya
