IssuerAnnouncementDetailsV2Portlet

Actions

Thob Al Aseel Company Announces the Establishment of a Retail Company for International Fashion Brands Through Its Subsidiary (Aseela Traid Company)

4012
ALASEEL
-0.74 %
1446/06/16     17/12/2024 08:00:50

Element ListExplanation
Announcement Detail Thob Al Aseel Company, through its subsidiary "Aseela Traid Company," which operates in the retail sector for ready-made men's, women's, and children's clothing, announces the establishment of a commercial company named Jada Al-Harir Trading Company with a capital of SAR 36,363,636. Aseela Trade Company holds a 45% ownership stake in the new company, which is financed through self-funding from the resources of Thob Al Aseel Company. The remaining 55% ownership stake is held by IPEKYOL GIYIM SANAYI PAZARLAMA VE TICARET ANONIM SIRKETI (a Turkish company). There is no related party in this transaction.

It is worth noting that Aseela Trade Company (the subsidiary) had previously arranged to acquire the Jacadi and Promod trademarks. This step comes as part of the company's efforts to enter the retail sector for international brands, thereby expanding its overall activities and strengthening its presence in the market.

This expansion is expected to positively impact the company's financial performance starting from the first quarter of 2025. The company is currently working on developing an implementation plan and selecting suitable locations for its operations.

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.

Company Performance

Add To Watchlist
In your Watchlist
Add To Watchlist
Key Parameters
Last Price
Net Change  (%)
Value Traded (Sar)
Volume Traded
See The Company Profile

LoginPortletPopupv2

Actions

AddtoWatchlistv2

Actions
NO PORTLET SESSION YET