Tharwah completes branch-to-subsidiary transition

The branch-to-subsidiary transformation is part of Tharwah’s strategy to enhance governance and operational efficiency

Altharwah Albashariyyah Co. (Tharwah) announced the completion of the procedures to convert its branch, Tharwaty for Information Technology, into a limited liability subsidiary (single-member company).

The wholly owned subsidiary was registered under the name Tharwaty for Information Technology Co., according to a Tadawul statement.

The transformation is part of Tharwah’s strategy to enhance governance and operational efficiency, empower its subsidiaries, as well as support its growth and expansion plans in promising sectors, particularly information technology, artificial intelligence and advanced digital solutions.

This step aligns with the company’s direction to develop and expand its technical services to meet market needs and strengthen its ability to deliver advanced digital solutions, thereby supporting sustainable added value for shareholders.

The move will have no material impact on its financial statements at present, the statement said, noting that any material developments will be disclosed in due course.