Naqi Water’s major shareholders commit to retain shares for one year

A production facility of Naqi Water. The major shareholders commit to retaining their shares for one year

Naqi Water Co. received letters from its major shareholder and board Chairman, Amin Al-Mallah, and Seqa United Group, another major shareholder, confirming their full commitment not to sell, transfer, or dispose of their shares for one year from the date of the letters, according to a Tadawul statement.

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This commitment reflects their keenness as substantial shareholders to support the stability of the company’s ownership structure and to reinforce confidence in its strategy and expansion plans.

Their commitments will have no relevant financial impact on the company, the statement added.

Al-Mallah and Seqa own 7 million shares, or 35% of the share capital each, according to data available with Argaam.