Riyadh — Mubasher: United Wire Factories Company (Aslak) has signed an agreement to extend the long-stop date for its acquisition of a 40% stake in Al Raeda Industrial Investment Company.
The new deadline for completing the transaction is 24 June 2027, moving from the previous cutoff of 27 September 2026.
The deal, valued at SAR 92.82 million, involves the purchase of 3.12 million ordinary shares from several selling shareholders.
Aslak intends to settle the consideration by issuing new shares through a capital increase.
The extension was necessitated as several closing conditions remain outstanding, including obtaining mandatory regulatory approvals from the Capital Market Authority (CMA) regarding the capital hike and the subsequent publication of the shareholders’ circular.
The original share purchase agreement was signed on 31 December 2025 and previously disclosed on 1 January 2026.
The company confirmed that the updated timeline will be reflected in the forthcoming shareholders’ circular once all necessary regulatory clearances are made.
Aslak stated it will continue to disclose any material developments regarding the transaction as they occur.
In the second quarter (Q2) of 2026, Aslak witnessed an annual increase in net profit to SAR 15.30 million, compared to SAR 1.90 million.
