Anaam sells stake in Wasit Saudi for SAR 38.2M

Anaam expects selling its entire stake in Wasit Saudi to positively impact its Q2 2026 financial statements.

Anaam International Holding Group signed today, April 12, an agreement to sell its entire stake in Wasit Saudi Arabia for Entertainment and Beauty Systems, a closed joint stock company, for a total value of SAR 38.18 million.

In a statement to Tadawul, the company said the shares transfer and assigning any right thereto under the Companies Law and the Memorandum of Association will occur upon receiving the first installment of SAR 25.2 million, within a maximum of 30 days from the date of signing the contract.

The second installment of SAR 3.25 million is payable one year from signing the contract. The rest of the amount shall be paid in three equal installments every six months following the payment of the second installment.

The buyer, Tariq Al-Haidari, has signed promissory notes payable on their respective due dates, the statement added, noting that the amounts generated from the sale will be used to repay part of outstanding loans and develop the company's real estate to increase income and support working capital.

Anaam holds 1.07 million shares in Wasit, representing 63% of the total capital.

This transaction is expected to yield a good financial return, which will be reflected in Q2 2026 financial statements, the statement further indicated.

Meanwhile, Anaam added that the step comes within the framework of its strategy to restructure investment portfolio, where the exit process from the subsidiary aims to improve liquidity levels by converting restricted investments in long-term operational and capital assets into immediate cash flows, in addition to reducing financial burdens and reducing the size of short-term liabilities associated with the subsidiary, thereby reducing the pressure on the group's consolidated cash flows.