Logo ofRed Sea International Co. (RSI)
Red Sea International Co. (RSI) shareholdersapproved theproposed transaction related to its subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix), during the ordinary general meeting (OGM)heldon Aug. 31. 
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In a statement toTadawul, the company stated that First Fix shareholders plan to offer 12 million shares, equivalent to 30% of capital, in an initial public offering (IPO) on the Saudi market.
Red Sea confirmed it will not sell any shares in the offering and will retain its 51% majority stake in First Fix.
Logo ofRed Sea International Co. (RSI)
Red Sea International Co. (RSI) shareholdersapproved theproposed transaction related to its subsidiary, Fundamental Installation for Electric Work Co. Ltd. (First Fix), during the ordinary general meeting (OGM)heldon Aug. 31.
For more news on listed companies
In a statement toTadawul, the company stated that First Fix shareholders plan to offer 12 million shares, equivalent to 30% of capital, in an initial public offering (IPO) on the Saudi market.
Red Sea confirmed it will not sell any shares in the offering and will retain its 51% majority stake in First Fix.
