Riyadh – Mubasher: Alujain Corporation has completed the acquisition of shares from certain shareholders of its subsidiary National Petrochemical Industrial Company (NATPET).

The deal was finalised after the successful execution of a share swap transaction and transfer of cash consideration, according to a bourse disclosure. 

As a result of the equity acquisition, Alujain's ownership in NATPET has increased from 88.59% to 97.55%.

It is worth noting that in the first half (H1) of 2023, Alujain's net profits after Zakat and tax  amounted to SAR 9.63 million, while its revenues totalled SAR 798.93 million.