Logo ofTakween Advanced Industries Co.
Takween Advanced Industries Co. signed, on April 30, a share purchase agreement (SPA) with the Chinese partner JOFO Nonwovens Co., Ltd to acquire its entire 70% stake in Advanced Fabrics Factory Co. (SAAF) (a limited liability company). 
In a statement to Tadawul, the company explained that the acquired stake represents 129,360 shares. Takween currently holds a 30% stake in SAAF, representing 55,440 shares.
Upon completion of the transaction, the company will own 100% of SAAF’s share capital. This is in consideration for the seller’s transfer of its entire stake, with Takween assuming all current and future obligations of the target company, including financial and operational liabilities, as well as any other existing or contingent obligations, in accordance with the terms and conditions set out in the SPA.
Takween further stated that, with respect to the expected financial impact, and in accordance with IFRS 3 requirements, the estimated net financial impact of the transaction is a gain of SAR 3.95 million (gain arising from the acquisition). It added that these figures are preliminary and remain subject to final review by the external auditor, and may change based on the final assessment of the fair value of the net assets and liabilities at the completion date.
The financial impact of the transaction is expected to be reflected in Takween’s consolidated financial statements for Q1 2026, subject to completion of the transaction within the aforementioned period.
According to the statement, the transaction is subject to a number of conditions precedent, including obtaining the relevant regulatory approvals.
Takween also said it will announce any material developments related to the transaction in due course.
Takween’s board of directors approved, in December 2025, the signing of a memorandum of understanding (MoU) with Chinese partner JOFO Nonwovens Co. Ltd. to acquire the latter’s entire 70% stake in SAAF, represented by 129,360 quotas. The board further authorized the Chairman to complete the required regulatory procedures and to negotiate and sign the final agreements.
Logo ofTakween Advanced Industries Co.
Takween Advanced Industries Co. signed, on April 30, a share purchase agreement (SPA) with the Chinese partner JOFO Nonwovens Co., Ltd to acquire its entire 70% stake in Advanced Fabrics Factory Co. (SAAF) (a limited liability company).
In a statement to Tadawul, the company explained that the acquired stake represents 129,360 shares. Takween currently holds a 30% stake in SAAF, representing 55,440 shares.
Upon completion of the transaction, the company will own 100% of SAAF’s share capital. This is in consideration for the seller’s transfer of its entire stake, with Takween assuming all current and future obligations of the target company, including financial and operational liabilities, as well as any other existing or contingent obligations, in accordance with the terms and conditions set out in the SPA.
Takween further stated that, with respect to the expected financial impact, and in accordance with IFRS 3 requirements, the estimated net financial impact of the transaction is a gain of SAR 3.95 million (gain arising from the acquisition). It added that these figures are preliminary and remain subject to final review by the external auditor, and may change based on the final assessment of the fair value of the net assets and liabilities at the completion date.
The financial impact of the transaction is expected to be reflected in Takween’s consolidated financial statements for Q1 2026, subject to completion of the transaction within the aforementioned period.
According to the statement, the transaction is subject to a number of conditions precedent, including obtaining the relevant regulatory approvals.
Takween also said it will announce any material developments related to the transaction in due course.
Takween’s board of directors approved, in December 2025, the signing of a memorandum of understanding (MoU) with Chinese partner JOFO Nonwovens Co. Ltd. to acquire the latter’s entire 70% stake in SAAF, represented by 129,360 quotas. The board further authorized the Chairman to complete the required regulatory procedures and to negotiate and sign the final agreements.
