Al Yamamah Steel restructures major shareholder stake

04/11/2025 Argaam
Logo ofAl Yamamah Steel Industries Co.

Logo of Al Yamamah Steel Industries Co.

Al Yamamah Steel Industries Co. received today, Nov. 4, a notice from Al Muhaidib and Sons Group, a major shareholder owning 8.038% of its shares, expressing its intention to reorganize and restructure its investment portfolios.

 

The company said on Tadawul that the restructuring will involve transferring 2.4 million shares, or about 4.724% of Al Yamamah Steel’s capital, from its investment portfolio to that of Al Muhaidib Group (AMG), a limited liability firm owned by Al Muhaidib and Sons Group.

 

It added that the transfer will change the ownership percentage of one of the company’s major shareholders, which will lead to an update in the list of top shareholders on Tadawul’s website.

 

The company confirmed that the shareholder obtained Capital Markert Autority (CMA) approval to transfer the securities without executing a transaction, under subparagraph (m) of paragraph 2, Article 36 of the Securities Depository Center (SDC) Rules.

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