Al Rasheed extends MoU with Taif Shipping for 90 days

Al Rasheed extended the MoU with Taif Shipping for 90 days starting from April 20.

Nomu-listed, Mohammed Hadi Al Rasheed and Partners Co. (Al Rasheed), extended a non-binding memorandum of understanding (MoU) with Taif Shipping Co. LLC. for 90 more days starting from today, April 20.

In a statement to Tadawul, Al Rasheed said the extension is in an attempt to complete the required due diligence and regulatory procedures related to the investment.

On Oct. 20, 2025, Al Rasheed signed a preliminary non-binding MoU with Taif Shipping to acquire a stake in Taif Shipping in return for cash consideration, Argaam reported.

The MoU was renewed in January for additional 90 days.

Taif Shipping engages in services related to oil and gas extraction, transportation, and blending of silica sand and chemicals used in oil and gas extraction operations.