Sadirat redeems full subscription amount for canceled FAAD Industrial Fund offering

In a statement to Tadawul, the company said there will be no material financial impact on its income statement as a result of that.

According to data available with Argaam, Haddaj Investment Co., a subsidiary of Sadirat, signed in October 2024 a non-binding agreement to establish an investment fund with the Capital Market Authority-licensed FAAD Financial Partners and Nama Chemicals Co.

The agreement aimed at establishing an investment fund to acquire a stake in Jubail Chemical Industries Co. (JANA), a subsidiary of Nama Chemicals, alongside setting the fund’s basic rules and conducting the required due diligence and valuation.

In June 2025, Sadirat signed a binding subscription agreement with Nama Chemicals and its subsidiary JANA, and FAAD Financial Partners.

Under the agreement, FAAD Financial Partners would have injected SAR 200 million into JANA in exchange for a 40% stake in JANA’s capital through the issuance of new shares.

In August 2025, Sadirat’s board decided to invest SAR 70 million through Haddaj, the company’s investment arm, by subscribing to the privately owned, closed-ended FAAD Industrial Fund, licensed by the CMA and managed by FAAD Financial Partners.

In December 2025, Sadirat received a notice from the fund manager of FAAD Financial Partners stating that the FAAD Industrial Fund’s subscription offering had ended without raising the minimum required amount to launch and operate the fund. As a result, the offering was canceled.