Halwani: Major shareholder transfers part of stake to investment portfolio

Logo of Halwani Bros Co. 

Halwani Bros Co. received, on Nov. 6, a notification from Aseer Arabian for Industrial Investment Co., one of its major shareholders in the company, indicating their intention to transfer 1.59 million shares under its ownership, according to a statement to Tadawul.

This transfer aims to restructure Aseer Arabian’s ownership, which represents 55.51% of Halwani Bros’ shares, to the investment portfolio of Sinad Holding Co., which owns a 100% stake in Aseer, the statement added.

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As a result, the move will lead to a change in the shares held by one of the direct major shareholders in Halwani Bros on Tadawul.

Sinad Holding’s investment portfolio will own 1.59 million shares of Halwani, representing nearly 4.5% of the latter’s capital.

According to data compiled by Argaam, major shareholders ownership data for Monday, Nov. 4, indicated that Aseer Arabian’s stake in Halwani fell from 55.5% to 51%.