Naif Alrajhi Investment acquires 5% of Sinad Holding to become a major shareholder

Naif Alrajhi Investment acquired 5% of Sinad Holding after they entered the list of major shareholders, as the company’s data showed on the website of the financial market – Tadawul.

Naif Alrajhi Investment is a specialized Saudi investment group based in Riyadh and has a global presence in several countries. Its headquarters are in the Kingdom of Saudi Arabia and it has business activities in the United Arab Emirates, the United Kingdom, Italy, Morocco and Egypt. It invests in the real estate sector and development, financial markets, and mergers and acquisitions. The group is famous for its diversified portfolio of real estate projects and a group of companies operating in 13 different sectors, including real estate, hospitality, food and beverage, mining, contracting, interior design and implementation, financial markets, marketing and advertising, logistics services and others.

It is worth noting that earlier last year, the group appeared on the list of major shareholders in the Gulf Training Company. According to Naif Alrajhi Investment website, the group explained that it keeps pace with this growth through a clear strategy, which is carefully tested to reach successful investment decisions for its companies, indicating that its philosophy includes long-term strategic investments in companies listed on the Saudi market and other dynamic investments in the medium and short term.

The investment comes at a time when the Saudi Stock Exchange (TASI) is witnessing momentum derived from the companies’ results and the government’s emphasis on the principle of spending, which may have an impact on performance in the fourth quarter of 2024.

It is also noteworthy that the general index of the market achieved a remarkable increase of about 2.16% during the three quarters of the current year.

The Saudi stock market ended the third quarter of 2024 with a remarkable increase, achieving gains of about 258.71 points, so that its index rose from 11967.39 points at the end of 2023 to 12226.1 points at the end of the third quarter of 2024, and the market value of the shares listed on the market reached 10.103 trillion riyals.

Sinad Holding Company, formerly Aseer, was established by Royal Decree No. M/78 dated 1395/11/07 AH corresponding to 11/11/1975 AD as the first Saudi public joint-stock company with multiple activities fully owned by the private sector with a capital of 50 million riyals. The company gradually increased its capital until it reached 1.26 billion riyals at the present time.

At the beginning of 2022 AD, the Extraordinary General Assembly approved amending the company’s name to become Sinad Holding Company.

The holding companies’ activities are carried out by managing their subsidiaries, or participating in the management of other companies in which they contribute and providing them with the necessary support, investing their funds in stocks and other securities, owning real estate and movable property necessary to carry out their activities, owning industrial property rights such as patents, trademarks, industrial and franchise rights and other moral rights, exploiting them, and leasing them to their subsidiaries or others, and any other legitimate purpose consistent with the nature of this company. Its current activities are focused on the following strategic sectors: the food industries sector, the electrical and electronic home appliances sector, the real estate development and development sector, the construction and building materials sector, and the petrochemical industry sector.