Riyadh – Mubasher: The board members of Al Babtain Power and Telecommunication Company have decided to initiate the voluntary liquidation of a wholly owned subsidiary, during a meeting held on 20 May 2026.

The move to voluntarily liquidate International Wind Energy Company was resolved as the subsidiary has not had any activities for several years, according to a bourse disclosure.

Al Babtain Power noted that the decision follows a prolonged period of operational inactivity for the unit and is part of a broader effort to streamline the parent company’s corporate structure.

International Wind Energy Company is a limited liability entity that is 100% owned by Al Babtain Power, with a total paid-up capital of SAR 5 million.

This process allows the parent company to eliminate the administrative, legal, and regulatory costs associated with maintaining a dormant legal entity.

The liquidation process will be conducted in accordance with the prevailing regulations in Saudi Arabia, which involves the appointment of a liquidator to oversee the settlement of any outstanding liabilities and the distribution of remaining assets back to the parent company.

Once these procedures are finalized, the subsidiary’s commercial registration will be formally cancelled.

From a financial perspective, Al Babtain Power stated that it does not expect any material impact on its consolidated financial statements following the completion of the liquidation procedures.

This assessment indicates that the subsidiary’s financial position has already been accounted for in a manner that precludes significant adjustments or write-offs that would affect the parent company’s net income or total assets in the coming financial periods.

In the first quarter (Q1) of 2026, Al Babtain Power recorded net profits worth SAR 143.30 million and the board later approved cash dividends’ distribution at a total amount worth SAR 31.97 million.