“Al-Muhaidib” transfers 4.83% of “Bawan” shares to its holding company
Bawan Company received a letter from the shareholder: Abdul Qader Al Muhaidib and Sons Company (a closed joint stock company) as one of the company’s major shareholders, which owns 13.38% of Bawan Company shares.
The company said in a statement on its website "Saudi Arabia trading"The letter states Al-Muhaidib Company’s desire to reorganize and restructure its investment portfolios, by transferring 2,900,000 shares representing approximately 4.83% of Bawan Company’s shares from its investment portfolio to the portfolio of Al-Muhaidib Holding Company (a limited liability company), which is one of the subsidiaries of Abdul Qader Al-Muhaidib & Sons Company.
According to the statement, this transfer will result in an amendment to the ownership percentage of one of the major shareholders, and an update to the published list of major shareholders. On the Tadawul website.
The shareholder obtained the approval of the Financial Market Authority to transfer securities without executing a transaction based on Subparagraph (M) of Paragraph (2) of Article Thirty-Six of the Securities Depository Center Rules.
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