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2026-11-05T14:00:53.208Z

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Red Sea Delays Unit Offer

Red Sea Delays Unit Offer

Red Sea International Company has postponed proceeding with the initial public offering of its subsidiary, “Initial Electrical Works,” following a reassessment of economic and market conditions and in line with the interests of the company and its shareholders. It has submitted a request to the Capital Market Authority to withdraw the offering file. Red Sea International owns 51% of the subsidiary, which is headquartered in Jeddah and carries out mechanical, electrical and plumbing works, as well as infrastructure projects.

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