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United Electronics Company (eXtra) announces a clarification related to media speculation on the potential initial public offering of one of eXtra’s subsidiaries
| Element List | Explanation |
|---|---|
| Announcement Detail | With reference to recent media speculation that the United Electronics Company (eXtra) is planning a potential initial public offering (IPO) with respect to one of its subsidiaries, United Company for Financial Services (Tas’heel), The Company would like to clarify that it is evaluating strategic options concerning its consumer finance business, including the possibility of an initial public offering and the extent to which such an offering would create further value for shareholders. Any decision regarding these strategic options is still subject to completing the necessary financial, technical and legal assessments; obtaining the relevant corporate approvals; as well as any necessary regulatory approvals. Any development will be announced by the Company as required by the regulations. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Last Price 84.8
Net Change 1.1 (+1.31%)
Value Traded (Sar) 11,875,631.5
Volume Traded 140,569
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