Riyadh – Mubasher: Riyadh Cables Group Company, a prominent manufacturer in the Saudi industrial sector, has officially announced a significant internal reorganization of its shareholding structure, according to a bourse disclosure.
The company informed the Saudi Exchange (Tadawul) that it received a formal notification from Ahmed Samer bin Hamdi Al Zaim, a major shareholder, regarding the transfer of 9 million shares to a corporate entity under his control.
This transaction represents approximately 6% of the total issued share capital of Riyadh Cables and marks a transition from personal to corporate ownership for the stake in question.
The equity transfer, meanwhile, is part of a strategic effort by Al Zaim to restructure and reorganize his investment holdings. The shares will be moved from his personal investment portfolio into the portfolio of Ahmed Samer Hamdi Al Zaim Company, which is registered as a closed joint-stock company.
This move is characterized as an internal administrative realignment of assets rather than a liquidation or a sale to an outside party.
Moreover, Ahmed Samer Hamdi Al Zaim Company is 99.99% owned by the shareholder Al Zaim. Consequently, while the legal title of the shares has shifted to a corporate vehicle, the ultimate beneficial ownership and the voting power associated with the 6% stake remain concentrated with Al Zaim.
The listed group stated that this high level of ownership in the recipient company confirms that the transaction does not result in a change of control or a reduction in the shareholder's overall economic interest in Riyadh Cables.
On Tadawul, investors who hold 5% or more of a listed company’s shares are categorized as major shareholders and are subject to specific reporting obligations. Therefore, as the 9 million shares represent 6% of the company, the appearance of Al Zaim Company on the official shareholders' register will be reflected in the exchange's daily ownership updates.
It is worth noting that Riyadh Cables generated net profits worth SAR 281.96 million in the first quarter (Q1) of 2026, while its revenue hit SAR 2.76 billion.
