Halwani says major shareholder transfers shares to Sinad’s investment portfolio

Logo of Halwani Bros Co. 

Halwani Bros Co. was notified, on Nov. 6, by its major shareholder, Aseer Arabian for Industrial Investment Co. of its intention to transfer 1.59 million shares to to the investment portfolio of Sinad Holding Co., which owns a 100% of Aseer, according to a statement to Tadawul.

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Aseer currently owns 55.51% of Halwani, before the stake transfer.

The transfer will lead to a change in the ownership of a direct major shareholder in Halwani on Tadawul.

Sinad’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’s stake in Halwani fell from 55.5% to 51%.