On July 2, 2026, Rawasi Albina Investment Co. announced the signing of a non-binding Memorandum of Understanding (MoU) with Al-Amlaq Al-Hadidiyah Trading Establishment, headquartered in Riyadh, to acquire 50% of the economic value of the establishment, with the MoU signed on July 1, 2026. Upon completion, the establishment — which specializes in the wholesale of metal and steel pipes, sheets, sections and billets, timber, as well as contracting and construction activities — will be converted into a company jointly owned by both parties, each holding a 50% ownership interest. The transaction aims to enhance operational integration, improve project execution efficiency, and expand Rawasi Albina's business base in the contracting and construction sector. The MoU is valid for six calendar months from the signing date and may be extended by mutual agreement, while the final transaction value remains subject to completion of financial, legal, and technical due diligence, regulatory approvals, and financial valuation, with financing to be sourced from the Company's internal resources and operating cash flows.

Original announcement:

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