Riyadh — Mubasher: United Wire Factories Company (Aslak) received and official notification on 28 July 2026 regarding a change in the company’s shareholding structure.

Mohammed bin Rashid Mohammed Al Rasheed, a major shareholder, transferred 2.20 million shares of his stake in the company’s capital, according to a bourse filing.

The ownership of the shares was transferred to his son, Rashid bin Mohammed bin Rashid Mohammed Al Rasheed.

The company characterized the transaction as a private family transfer between direct descendants.

Aslak confirmed that this internal reallocation of shares will have no impact on its daily business operations or its broader operational strategy.

The transfer was completed as part of a formal notification process to the company on the specified date.

Earlier, Aslak announced that Rasheed Al Rasheed acquired nearly 7.83% stake in the company.