|Reference to Saudi Industrial Investment Group announcement relating to signing an agreement to buy shares in Unibio International. The Company would like to announce the completion of acquiring the remaining investment after the company obtained the Danish Government’s approval.
|Saudi Industrial Investment Group announced to its shareholders that it has signed an agreement to buy shares in Unibio International, a leader in bioprotein production technology sector. The approximate investment of $70 million represents 24% of the company’s ownership in the current funding round, and the Investment will be in two phases, where a 9.9% stake is acquired in the first phase, and the remaining investment to be acquired after obtaining the Danish Government’s approval for a Foreign Direct investment (FDI).
|Date of Previous Announcement on Tadawul’s Website
|2023-03-27 Corresponding to 1444-09-05
|Percentage of fulfilled achievement
|Event’s Expected Completion Date
|Reasons for Exceeding the Announced End Date
|The costs associated with the event, and if they have changed or not with indication of the reasons.
|Phase II has a 14.1% share of the ownership of Unibio International, and there is no change from what was announced before.
It is worth mentioning that both phases of this investment was funded by internal resources.
|Impact of the Delay on the Company’s Financial Results