The Clap
Al Hokair Group (1820) entered into negotiations with Abdulmohsin Al Hokair Holding Group (a related party) to acquire a number of hotel assets currently leased by the company.
The Deets
Accoridng to the company, the acquisition will be in exchange for the issuance of new shares, in order to increase its capital and support its operational activities.
Abdulmohsin Al Hokair Holding Group owns a 31.50% stake in Al Hokair Group.
Related News
Al Hokair Tourism Group announced a 50% reduction in its losses, amounting to about SAR 35 million during Q2 2022.
What Now
Al Hokair stated that it will disclose any new developments regarding the purchase of hotel assets.