Stock Track | International General Insurance Holdings (IGIC) Soars 5.73% Pre-market on New Share Repurchase Program

Stock Track11-05

Shares of International General Insurance Holdings Ltd (IGIC) surged 5.73% in pre-market trading on Wednesday, as investors reacted positively to the company's announcement of a new share repurchase authorization.

The company revealed that it has approved a new program to repurchase up to 5 million common shares. This fresh authorization comes after IGIC exhausted its previous 7.5 million share repurchase program, demonstrating the company's continued commitment to returning value to shareholders.

Share repurchase programs are often viewed favorably by investors as they can boost earnings per share and signal management's confidence in the company's financial health and future prospects. The market's enthusiastic response to IGIC's announcement suggests that investors see this move as a positive indicator for the company's valuation and long-term strategy.

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