Alujain Corporation signed an share purchase agreement to acquire additional 16.03% stake in National Petrochemical Industrial Company from shareholders of NATPET for SAR 810 million.

Alujain Corporation (SASE:2170) signed an share purchase agreement to acquire additional 16.03% stake in National Petrochemical Industrial Company from shareholders of NATPET for SAR 810 million on July 14, 2023. Alujain to acquire 17,152,451 shares from some shareholders of NATPET. The transaction will be financed through Islamic Murabaha facilities from Alinma Bank.

Post transaction Alujain Corporation increased it stake from 57.4% to 73.43% in NATPET.