09/06/2015 13:58 AST

eXtra (United Electronics Company) has entered into a Memorandum of Understanding (MOU) with Mohammad Yousuf Sager & Co., about its intention to acquire 51% of the company. The basic conditions of the MOU are that the offer will be considered exclusively for nine months after the date of signing, and that the signing by all parties of the final contracts for the transaction will take place within that period.

Mohammad Yousuf Sager & Co. is a regional retailer specialized in fashion, accessories and watches. Brands that the company represents in some countries include DKNY, Kenzo, Max Mara and Koton (fashion), as well as Jimmy Choo and Ecco (shoes), Trinket (accessories) and On Time (watches). The retailer operates in Saudi Arabia in addition to six other countries across the region, with more than 240 stores.

The signing of the MOU forms part of eXtra's strategic plans to enter more markets in the region, as well as a starting point for entering a variety of retail sectors, enhancing its market leadership and building on the growth it has experienced in the twelve years since its inception.

Commenting on the MOU, Abdullah Abdul Latif Al Fozan, Chairman of eXtra, said the company was accelerating its pace of growth to achieve its vision to become one of the Middle East's leading retail companies. He added that eXtra aimed to own and manage a wide range of stores, offering a variety of products, including leading domestic and international brands, managed by independent management with high levels of competency and expertise.

Al Fozan noted that eXtra continues to strengthen its leadership of the Kingdom's consumer electronics market, as well as that of the region, and that it continues to seek products and brands that create high profit margins in order to diversify its business activities and widen its geographical footprint.


Saudi Gazette

eXtra announces the opening of 9th store in Riyadh

27/09/2017

United Electronics Company (eXtra) announces the opening of its ninth Branch in Riyadh, bringing the total numbers of eXtra stores to Forty Three in GCC.

Extra CEO Mr. Mohammed Galal said

Tadawul

eXtra names new CEO

18/03/2015

Saudi Arabia-based technology and consumer electronics retailer eXtra has named Abdulhameed Abdulaziz Al Ohali as CEO. The appointment follows the resignation of previous CEO Karim Al Dahabi for pers

Saudi Gazette

EXTRA-THE CAPITAL MARKET AUTHORITY APPROVES THE CAPITAL INCREASE

09/03/2015

The CMA Board has issued its resolution approving United Electronics Company's request to increase its capital from SAR (300,000,000) to SAR (360,000,000) through issuing one bonus share for every (5

Tadawul

Ticker Price Volume
EXTRA Sector Market
P/E
Price/BookValue
Dividend Yield (%)
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
JARIR 12.50 0.04 (0.32%)
NICEONE 36.20 -0.80 (-2.17%)
SASCO 59.60 -0.30 (-0.51%)
ALSAIFGALLERY 7.15 -0.13 (-1.79%)
AMWAJINTERNATIONAL 41.95 0.00 (0.00%)
TAQA Group reports Q1 revenue of $ 3.87bn, up 3.8%

16/05/2025

Abu Dhabi National Energy Company (TAQA), one of the largest listed integrated utilities companies in Europe, the Middle East and Africa, has delivered a 3.8% year-on-year revenue growth, reaching AE

Trade Arabia

Abraj Energy signs deal with BP for drilling rig in Block 61

16/05/2025

Abraj Energy Services has signed a contract with BP Oman to provide a drilling rig for operations in Block 61, with the rig expected to become operational in the fourth quarter of 2025.

The

Muscat Daily

Commercial Bank launches new CB Corporate Banking App

16/05/2025

Commercial Bank, a leader in innovative digital banking solutions, has unveiled its all-new Corporate Mobile Banking App, setting a new standard for business banking in the region.

This stat

Gulf Times

Emirates NBD pilots new AI compliance tech to reduce risks, improve payment speed

16/05/2025

Emirates NBD is rolling out a new AI-driven solution to strengthen its compliance checks on payments and trade transactions, as part of a wider effort to improve safety, speed, and transparency in fi

Gulfnews

NBK publishes first green bond allocation and impact report

16/05/2025

In line with its leading and responsible role in the banking industry, National Bank of Kuwait continues to advance confidently towards building a sustainable future by implementing its environmental

Kuwait Times