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Asklaq extends deadline for 40% Al Ra'idah deal
Al-Etihad Factory for Wire Industries (Aslak) announced the extension of the deadline to complete its acquisition of a 40% stake in Al-Raeda Industrial Investment Company, from September 27, 2026, to June 24, 2027. This extension aims to complete the necessary legal and regulatory procedures. The transaction, valued at approximately 92.8 million riyals, is part of the company’s plan to increase its capital through the issuance of shares to the selling shareholders as consideration, following final approvals from the competent authorities. This extension has not resulted in any additional costs or a direct financial impact on the company's current financial statements.
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