United International CEO's Sudden Passing After IPO Debut
Portfolio - People | Dec 09, 2024 | Zawya
United International Holding Co., a Saudi-based financial services firm and subsidiary of United Electronics Company (eXtra), announced the sudden death of its CEO, Sakhr Abdulrahman Mohammed Al-Mulhem, on December 6. This unfortunate event transpired merely days after the firm's Initial Public Offering (IPO) and the commencement of trading on Riyadh's Tadawul exchange on December 3. Known for providing non-banking financial services to clients of eXtra, the parent company had recently raised 990 million riyals ($264 million) from selling a 30% stake in United. The company has promised to keep stakeholders informed about the appointment of a new CEO.
Sectors
- Financial Services
- Retail
Geography
- Saudi Arabia – The article is focused on a Saudi-based financial services firm and involves details relevant to the Saudi stock exchange, Tadawul.
Industry
- Financial Services – United International Holding Co. operates in the financial services sector, offering non-banking financial solutions as part of its core business activities.
- Retail – As a subsidiary of United Electronics Company (eXtra), United International offers services tailored to eXtra's retail customers.
Financials
- 990 million riyals ($264 million) – The amount raised by United Electronics Company (eXtra) from selling a 30% stake in United International Holding Co.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| United International Holding Co. | Target Company | Company | A financial services firm recently listed on Riyadh's Tadawul exchange and a subsidiary of United Electronics Company (eXtra). |
| Sakhr Abdulrahman Mohammed Al-Mulhem | CEO | Person | The recently deceased CEO of United International Holding Co. |
| United Electronics Company (eXtra) | Selling Company | Company | A Saudi-listed company that owns United International Holding Co. and provides electronics and retail services. |