AICTEC announces completion of wholesale business spin-off

Advance International Communications and Technology Co. (AICTEC) announced on Thursday the completion of procedures to spin off its wholesale business segment by converting its branch, Innovation Passage Technology Co., into a single-member limited liability company fully owned by AICTEC.

The new entity will assume full responsibility for all wholesale operations and activities.

According to a statement published on Tadawul, the move is part of AICTEC’s ongoing strategy to restructure its operational segments and strengthen its focus on core business activities.