Overview of Maaden Bauxite, Maaden Aluminium since 2016

Logo of Saudi Arabian Mining Co. (Maaden) 

Saudi Arabian Mining Co. (Maaden) announced today, Sept. 16, an agreement to fully purchase the stake of the first seller in Maaden Bauxite and Alumina Co. (MBAC), amounting to 128.01 million ordinary shares, representing 25.1% of its capital.

In addition, Maaden signed an agreement to acquire the entire holding of the second seller in Maaden Aluminium Co. (MAC), amounting to 165 million ordinary shares, representing 25.1% of its capital.

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After the completion of the acquisition process, Maaden's ownership in MAC and MBAC will increase from 74.9% to 100%.

According to Argaam Charts platform, revenues of MAC and MBAC amount to SAR 7.8 billion and SAR 2.4 billion, respectively.

Both companies showed fluctuating performance in terms of profits since 2016, according to data available on Argaam Charts.

The share capital of Maaden will increase from SAR 38.03 billion to SAR 38.89 billion by issuing 85.98 billion new ordinary shares with a par value of SAR 10 each, in favor of the sellers or any affiliates as determined by the sellers.

Moreover, the number of shares of Maaden will increase from 3.80 billion ordinary shares to 3.89 billion ordinary shares, a rise of nearly 2.26% of Maaden’s capital before the issuance of the new shares (the capital increase).

Upon the deal closure, Maaden's ownership in MAC and MBAC will increase from 74.9% to 100%, while the direct and indirect ownership of the sellers in Maaden's capital will represent approximately 2.21%.

According to Argaam Charts, Maaden's current capital stands at SAR 38 billion.

To view Maaden’s key financial data visit Argaam Charts