Naqi Water transactions with United Seqa Group exceed 1% of revenues

Logo of Naqi Water Co.

Naqi Water Co.’s ongoing transactions with United Seqa Group —a major shareholder and related party—exceeded 1% of total revenues, per the latest audited annual income statement.

These transactions relate to the procurement of production inputs for bottled drinking water, including plastic preforms and bottle caps. These materials are supplied on a regular basis by United Seqa, alongside other suppliers, Naqi Water said in a statement to Tadawul today, Feb. 3.

The transactions were conducted in the ordinary course of doing business, aligning with prevailing commercial terms, without any preferential treatment.

According to Argaam data, United Seqa Group owns seven million shares, representing 35%, of Naqi Water’s SAR 200 million share capital.

Naqi Water posted an annual topline of approximately SAR 219.34 million in 2024, meaning transactions with Seqa neared SAR 2.19 million (1% of total revenues) by year-end 2024.