Riyadh - Mubasher: Riyadh Cables Company, a subsidiary of Riyadh Cables Group Company, signed a share purchase agreement to acquire a 51% stake in Uzbekistan-based Artikul Aziya Kabel LLC for SAR 147.69 million.

The deal, signed on 27 October, is subject to Uzbek Competition Committee’s approval and other regulatory consents, according to a bourse filing.

The transaction will be funded through the Saudi company’s internal resources and existing facilities. It supports Riyadh Cables’ Central Asia expansion, creating a regional hub to diversify revenue and boost efficiency.

Founded in 2013, Artikul Aziya Kabel is a leading Uzbek manufacturer of power cables, electrical wires, solar energy cables, and cabling systems.

The company posted SAR 406.78 million in revenues in 2024, up from SAR 289.16 million a year earlier.

On 14 October, the Tadawul-listed company paid out cash dividends of SAR 299.43 million for the first half (H1) of 2025.