Al Meera transfers 85.76 mn Baladna shares to investment portfolio

Al Meera Consumer Goods Company has approved the transfer of 85,759,398 shares owned by the company in Baladna to its investment portfolio managed by Al Rayan Investment. This in-kind transfer will result in Al Meera receiving investment units equivalent in value to the shares being moved. The exact value and number of units will be determined at the time of the transaction's execution.

This move is part of Al Meera's efforts to streamline its investment management and optimize its portfolio structure. The in-kind transfer will enable the company to adjust its Baladna holding within its overall investment portfolio while retaining exposure through the allocated investment units. The transaction is pending necessary regulatory approvals and procedural completion, with final values based on terms applicable on the execution date.