ADX Approves Waha Capital Share Buyback As Investment Firm Builds Momentum Into 2026

(MENAFN- Khaleej Times)

ADX has approved Waha Capital's share buyback programme of up to 10 per cent of its issued share capital, marking a significant step by the Abu Dhabi–listed investment manager to accelerate shareholder value creation. The approval follows a General Assembly decision and allows Waha Capital to repurchase shares through open‐market transactions in line with ADX and Securities and Commodities Authority (SCA) regulations.

The company said the pace and scale of purchases will depend on market conditions. Managing Director Mohamed Hussain Al Nowais described the move as a vote of confidence in Waha Capital's outlook, noting that the current share price does not reflect the firm's intrinsic value.“As we build on this momentum heading into 2026, the buyback represents a disciplined deployment of capital and reinforces our long-term commitment to delivering meaningful returns,” he said.

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Waha Capital has posted one of its strongest nine‐month performances, reporting a 22 per cent year‐on‐year rise in net profit to Dh343 million for the period ending 30 September 2025. The results were driven in part by the Waha Land transaction with Aldar, which strengthened its industrial real‐estate portfolio, and by the firm's highly profitable exit from Optasia, a landmark divestment completed following the fintech company's Johannesburg Stock Exchange IPO. The Optasia exit generated $119 million, representing a four‐times multiple on invested capital and a 25 per cent IRR, highlighting Waha Capital's track record in scaling and monetising high‐growth assets.

The company, founded in 1997, continues to operate across public markets, private investments and industrial real estate. Its public markets division manages emerging‐market credit and equities funds, while its private investments arm deploys capital into diversified sectors and geographies. Meanwhile, its Waha Land business develops and leases industrial and logistics assets at ALMARKAZ, contributing to portfolio diversification and steady recurring income.

ADX performance adds context to the buyback

The buyback comes at a time when the Abu Dhabi Securities Exchange is experiencing a period of solid, though measured, growth. As of mid‐December 2025, the ADX General Index was up 6.59 per cent year‐on‐year, despite short‐term fluctuations.

Market liquidity has also gained strength: in the first half of 2025, foreign net investment surged 99.5 per cent to $3.7 billion, while total trading value rose 33.5 per cent year‐on‐year to Dh179.5 billion. Average daily trading value climbed to Dh1.45 billion, supported by the launch of the new ADX Group market infrastructure, including clearing and central securities depository subsidiaries.

Market fundamentals have remained resilient. By December 2025, the ADX's total market capitalisation hovered around Dh3.1 trillion, reflecting sustained investor confidence and ongoing reforms aimed at strengthening Abu Dhabi's position as a global financial hub.

Positioning for 2026

Against this backdrop, Waha Capital's decision to initiate buybacks underscores both confidence in its valuation and alignment with broader market strength. With solid earnings, a series of successful strategic transactions, and ADX's rising liquidity, the company enters 2026 with increased capacity to deliver stable, long‐term shareholder value.

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