Tadawul’s WAMID Acquires Remaining 49% of DirectFN for SAR 220.5M

Saudi Tadawul Group Holding Co. (Tadawul Group) announced that its subsidiary, Tadawul Advanced Solutions Co. (WAMID), has acquired the remaining 49% stake in Direct Financial Network Co. (DirectFN) for SAR 220.5 million.
In a statement to Tadawul, the group clarified that the acquired stake was previously owned by National Two Ventures (a sole proprietorship LLC). Following this transaction, WAMID now fully owns all shares of DirectFN Ltd.
The acquisition will be financed through Tadawul Group’s existing Sharia-compliant banking facilities, the statement added. The group expects the deal to have a positive financial impact over time, pending the fulfillment of all regulatory requirements.
This transaction aligns with WAMID’s growth strategy, which supports Tadawul Group’s broader strategic objectives. The acquisition aims to build new capabilities, foster innovation in regional capital markets, diversify revenue streams, and enhance the overall advancement of the capital market.
In May 2023, Tadawul Group previously announced that WAMID acquired a 51% stake in DirectFN for SAR 134 million.