Doha, February 25 (QNA) - Industries Qatar's Board decided to buy back part of its shares in the Qatari financial market, with a maximum limit not exceeding one billion Qatari Riyals for this purpose, according to the relevant applicable regulations.

"The decision to buy back shares of Qatar Industries was made due to our confidence in the company's promising future, strong financial position, and robust cash liquidity," the Qatar public shareholding company said in a statement released on Qatar Stock Exchange platform.

The statement added: "Industries Qatar intends to finance the share buyback from its retained earnings and available liquidity in accordance with applicable regulations and guidelines.

"The company will disclose the details of the program and the purchase mechanism according to a buyback strategy that will be announced in due course". (QNA)