eXtra approves sale of 1.25% stake in Tasheel

Logo of United Electronics Co. (eXtra)

United Electronics Co.'s (eXtra) board of directors approved on Aug. 5 the sale of 312,500 shares (a 1.25% stake) in United International Holding Co. (Tasheel), according to a statement to Tadawul.

The sale aims to enhance the public ownership liquidity in Tasheel’s shares, in the run-up to the planned capital increase, to be allocated later for the employee incentive plan.

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The transaction should comply with the relevant regulations and guidelines issued by the Capital Market Authority (CMA).

According to data compiled by Argaam, the lock-up period on eXtra’s 70% stake in Tasheel ended on June 2, 2025, marking six months since the company’s shares began trading on TASI.

Tasheel was listed on TASI on Dec. 3, 2024, at an IPO price of SAR 132 per share. The stock closed at SAR 160.20 on Aug. 5, 2025.

eXtra currently holds approximately 18 million shares in Tasheel, both directly and indirectly.

In March, the board of Tasheel recommended increasing the company’s capital by 200% through distributing 47 million bonus shares at 1.88 shares for each existing share, in addition to the allocation of three million shares for a long-term employee incentive plan.