Riyadh – Mubasher: United International Holding Company (UIHC), a subsidiary of United Electronics Company (eXtra), plans to float 7.50 million shares, on the Saudi Exchange’s Main Market (Tadawul).
The Capital Market Authority (CMA) greenlighted the company’s initial public offering (IPO) to trade 30% of its share capital last June, according to a press release.
The offering proceeds after deducting IPO-related expenses will be distributed to eXtra, the selling shareholder in proportion to the number of offer shares to be sold by it in the offering. Meanwhile, the company will not receive any portion of the offering proceeds.
United International Holding is the parent of United Company for Financial Services (Tas’heel) and Procco Financial Services W.L.L.
