Riyadh–Mubasher: Al-Babtain Power & Telecommunication Co. said it has extended a non-binding offer to acquire a founding stake in an industrial company, according to a bourse statement.
The offer was extended for the fourth time until 24 April as the relevant studies have not yet been completed, the statement added.
Al-Babtain had submitted the initial offer on 8 December.
The target company is still under establishment, and will manufacture technical coated fabrics and processed aluminum plates.
Al-Babtain stock rose 0.24% to close Sunday at SAR 25.09.
