Logo ofUnited Wire Factories Co. (Aslak)
United Wire Factories Co. (Aslak) received on Oct. 12 an extension agreement signed by the selling shareholders. 
The agreement extends the long-stop date for its acquisition of a 40% stake in Al Raeda Industrial Investment Co. to June 24, 2027, from Sept. 27, 2026.
In a statement to Tadawul, the company said that certain conditions for completing the transaction remain outstanding, including obtaining the Capital Market Authority’s (CMA) approval for the capital increase and publishing the shareholder circular.
The company added that the extension would be reflected in the shareholder circular, which will be published once the necessary regulatory approvals have been obtained.
It also stated that it would announce any material developments in due course.
According to data available with Argaam, Aslak signed a share sale and purchase agreement in January to acquire a 40% stake in Al Raeda.
The acquisition will be carried out through a capital increase involving the issuance of new shares (consideration shares) to Al Raeda’s selling shareholders.
Aslak and the selling shareholders agreed on a fair value of SAR 92.82 million for the new consideration shares.
Logo ofUnited Wire Factories Co. (Aslak)
United Wire Factories Co. (Aslak) received on Oct. 12 an extension agreement signed by the selling shareholders.
The agreement extends the long-stop date for its acquisition of a 40% stake in Al Raeda Industrial Investment Co. to June 24, 2027, from Sept. 27, 2026.
In a statement to Tadawul, the company said that certain conditions for completing the transaction remain outstanding, including obtaining the Capital Market Authority’s (CMA) approval for the capital increase and publishing the shareholder circular.
The company added that the extension would be reflected in the shareholder circular, which will be published once the necessary regulatory approvals have been obtained.
It also stated that it would announce any material developments in due course.
According to data available with Argaam, Aslak signed a share sale and purchase agreement in January to acquire a 40% stake in Al Raeda.
The acquisition will be carried out through a capital increase involving the issuance of new shares (consideration shares) to Al Raeda’s selling shareholders.
Aslak and the selling shareholders agreed on a fair value of SAR 92.82 million for the new consideration shares.
