WAMID, Tadawul Subsidiary, Completes Acquisition of Direct Financial Network

Saudi Tadawul Group Holding Co. (the “Group”) announced on Monday the completion of the regulatory requirements and the completion of the acquisition deal of its subsidiary, Tadawul Advanced Solutions Company (“WAMID”), of the remaining 49% stake in the issued capital of Direct Financial Network Company (DirectFN Limited) for a value of SAR 220.5 million, thus “WAMID” becomes the sole owner of all shares in Direct Financial Network Company (DirectFN Limited).

This comes in reference to the announcement of the “Group” published on the Saudi Exchange on Dec. 15, 2024 regarding the acquisition by its subsidiary, Tadawul Advanced Solutions Company (“WAMID”), of the remaining 49% stake in the issued capital of Direct Financial Network Company (DirectFN Limited), which is the stake owned by National Two Ventures (Sole Shareholder LLC).