Riyadh – Mubasher: Alujain Holding Corp. has purchased the entire stake of Haji Abdullah Alireza & Co. in the National Petrochemical Industrial Company (Natpet) for a total value of SAR 82 million to support its strategic investment plans.

The purchase agreement included more than 1.65 million shares that were sold for SAR 49.43 per share, according to a bourse statement on Tuesday.

Alujain, therefore, increased its equity ownership in the subsidiary Natpet by 1.55% to 74.98% from 76.43% prior to the stake acquisition.

The listed firm said the transaction will be financed through Murabaha facilities secured from Alinma Bank.

The financial impact of buying this equity will reflect on the income statements of the third quarter (Q3) of 2021.

Last month, Alujain purchased 17.15 million shares in Natpet for SAR 814.6 million.