extra says United International’s Tadawul IPO gets shareholder nod

17/04/2024 Argaam
Logo ofUnited Electronics Co. (eXtra)

Logo of United Electronics Co. (eXtra)

Shareholders of United Electronics Co. (eXtra) approved the public offering of United International Holding Co. in the Saudi Exchange (Tadawul) Main Market during the extraordinary general meeting (EGM) held on April 16.

 

For More IPOs

 

eXtra will sell 7.5 million shares, or 30% of United International’s capital, according to a statement to Tadawul.

 

The home appliance retailer owns 99% of United International Holding, while the remaining 1% stake is held by eXtra Bahrain. The company manages associate companies and implements investment partnerships in real estate and other securities.

 

United International Holding has capital of SAR 250 million, divided into 25 million shares with a par value of SAR 10 apiece.  

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