On June 17, 2026, Waja Co. announced the signing of a non-binding Memorandum of Understanding with Owtad Al Fahad Co. Ltd. to acquire a 5% equity stake in the construction services company. The MoU, signed on June 10, 2026, has a duration of six months and is extendable by mutual agreement. Owtad Al Fahad, established in 2020 and headquartered in Riyadh, provides construction, finishing, electrical, and mechanical services with a First-Class Classification in the construction sector. The acquisition is part of Waja's strategy to strengthen its presence in the contracting sector, with the purchase consideration to be determined upon completion of financial valuation, due diligence, and obtaining necessary approvals.

Original announcement:

Note: The original announcement does not explicitly specify a currency unit. Figures above are reproduced as-is. Please refer to the original announcement for details.

Important Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.