Logo ofWAJA Co.
WAJA Co. signed a non-binding memorandum of understanding (MoU) on June 10, to acquire a 5% stake in Awtad Al Fahd Co. Ltd. 
In a statement to Tadawul, the company said the MoU is valid for six months and may be extended by mutual agreement between the parties. The agreement currently has no financial impact.
Waja noted that Awtad Al Fahd was established in 2020 and is headquartered in Riyadh. The company provides construction, fit-out, electrical, and mechanical services, and executes commercial and construction projects across various regions of the Kingdom. It also holds a first-grade classification in the construction sector.
The company added that the purchase value will be determined after completing the financial valuation and due diligence process, as well as obtaining the necessary approvals from the relevant authorities.
Waja said it will announce any material developments in due course, noting that the MoU is non-binding and does not impose any obligation on the company should the transaction not be completed or be terminated for any reason.
Logo ofWAJA Co.
WAJA Co. signed a non-binding memorandum of understanding (MoU) on June 10, to acquire a 5% stake in Awtad Al Fahd Co. Ltd.
In a statement to Tadawul, the company said the MoU is valid for six months and may be extended by mutual agreement between the parties. The agreement currently has no financial impact.
Waja noted that Awtad Al Fahd was established in 2020 and is headquartered in Riyadh. The company provides construction, fit-out, electrical, and mechanical services, and executes commercial and construction projects across various regions of the Kingdom. It also holds a first-grade classification in the construction sector.
The company added that the purchase value will be determined after completing the financial valuation and due diligence process, as well as obtaining the necessary approvals from the relevant authorities.
Waja said it will announce any material developments in due course, noting that the MoU is non-binding and does not impose any obligation on the company should the transaction not be completed or be terminated for any reason.
