Company Profile

Company overview

The company''s current activity is in the production of polyethylene pipes, parts and accessories, which are used in many applications, including irrigation networks, water and sewage networks, gas, electricity and telecommunications pipes, in addition to many industrial applications. In addition, the company manufactures rubber products, which include pipe skin, flat and circular foam heat insulators for pipe insulation

Company History

Alwasail Industrial Company (the Company or The Issuer) was established as a sole proprietorship by Saleh bin Abdullah bin Abdulaziz Al-Mushaiqh under the name Agricultural means Corporation under Commercial Registration No. (1131002483) issued by the city of Buraidah on 03/29/1400 H (corresponding to 16/16). 02/1980) with a capital of fifty thousand (50,000) Saudi riyals. On 12/03/1411 AH (corresponding to 06/16/1991 AD), the owner decided to transform the Alwasail Agricultural Corporation into a joint liability company in the name of The Alwasail Agricultural Company to its owners Abdul Rahman bin Abdullah Al-Mushaiq and his brothers and the capital was increased to two hundred thousand (200,000) Saudi riyals divided into a number of Five (5) in-kind shares of equal value resulting from an assessment of the foundations net assets at an agreed value between the partners, the value of each share being forty thousand (40,000) Saudi riyals. (664) dated 03/12/1411 AH (corresponding to 06/16/1991 AD). On 10/13/1427 AH (corresponding to 04/11/2006 AD), the partners unanimously agreed to convert the company from a joint liability company to a closed joint stock company with a capital of one hundred million (10,000,000) Saudi riyals divided into ten million (10,000,000) ordinary shares. The value of each share is ten (10) Saudi riyals, all of which are ordinary shares, and the increase of ninety-nine million eight hundred thousand (99,800,000) Saudi riyals has been fulfilled in cash from the shareholders, and the name of the company has been modified to become AlWasail Industrial Company, and the company has been registered in a register Joint stock companies pursuant to Ministerial Resolution No. (216/s) dated 20/08/1428 AH (corresponding to 09/02/2007 AD) and Ministerial Resolution No. 269/s (dated 10/29/1428 AH (corresponding to 10/11/2007 AD) and are registered in the Register Commercial No. (1131002483) dated 03/29/1400 AH (corresponding to February 16 1980 AD) issued in the city of Buraidah On 07/25/1434 AH (corresponding to 04/06/2013 AD) the Extraordinary General Assembly agreed to increase the companys capital from one hundred million (100,000,000) Saudi riyals to two hundred and fifty million (250,000,000) Saudi riyals divided into twenty-five million (25,000,000) ordinary shares paid in full by granting one and Half (1.5) free shares for each one (1) share owned by shareholders registered on 25/07/1434 AH (corresponding to 04/06/2013 AD), which represents the date of the Extraordinary General Assembly by issuing fifteen million (15,000,000) shares Ordinary, the value of each share of which is ten (10) Saudi riyals, and the increase of one hundred and fifty million Saudi riyals has been met through one hundred and forty million (140,000,000) Saudi riyals from the retained earnings account, and transferring the amount of ten million (10,000,000) Saudi riyals from the reserve account regulars.

Company Bylaws

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Equity Profile

Investment limits

There are no restrictions on the company shares as stated in both the rules regulating qualified foreign financial institutions investment in listed securities and the instructions regulating foreign strategic investors ownership of strategic stakes in listed companies in accordance with the company articles of association and instructions issued by the supervisory and supervisory authorities to which the company is subject.