Sinad's Alessa Industries to float 30% stake on Tadawul

26/06/2022 ِArgaam

Logo of Alessa Industries Co.

Alessa Industries Co., which is 38%-owned by Sinad Holding Co., plans to offer 30% of its capital to the public on the Saudi Exchange (Tadawul), revealed Abdulmohsen Alessa, Executive Vice President for Operations. 
 

The company targets local sales of over SAR 1 billion, he told Asharq Business, on the sidelines of the BIG 5 Construct Egypt 2022. 
 

Alessa also stated that the company is planning a regional office in Egypt, in preparation of establishing its first plant in Egypt in 2023, with investments of more than $10 million. 
 

Alessa is a Saudi closed joint-stock company established in Riyadh in 1935, with SAR 750 million capital. It operates in the production, manufacture, import and distribution of air conditioners, home electrical appliances and electronics, and has a group of international agencies and brands, according to Argaam's data. 

 

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