Riyadh-Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) announced an addendum to the share purchase agreement with Bina Industrial Investment Holding Company to acquire its shares.
The period stipulated in the original agreement for completing the transaction and satisfying the conditions precedent has been extended by an additional 270 days, bringing the total period to 540 days from the effective date, unless further extended by written agreement between the parties.
Moreover, certain non-material conditions were amended, as agreed between the parties and in coordination with the legal adviser conducting the legal due diligence.
The transaction remains subject to a number of conditions, including finalizing the financial and non-financial information required for the shareholders’ circular and obtaining the Capital Market Authority’s (CMA) approval for the proposed capital increase.
FIPCO said the amendments will be reflected in the shareholders’ circular, which will be published to shareholders after obtaining the required regulatory approvals and sufficiently ahead of the extraordinary general meeting (EGM).
The company will announce any material developments relating to the progress of the transaction as and when they occur.
In the first half (H1) of 2026, FIPCO turned profitable at SAR 5.90 million, compared to net losses valued at SAR 15.10 million in H1-25.
