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

Saudi retailer eXtra posts higher H1 profit, declares $42.7m dividend

04/08/2026

Saudi electronics retailer United Electronics Co., also known as eXtra, reported higher first-half net profit for 2026 after revenue rose 5.3 percent.

According to Saudi Exchange filings, it

Arab News

United Electronics Company (Extra) Reports Steady Revenue Growth Despite Profit Dip

08/07/2026

United Electronics Company (Extra) has released its estimated financial results for the six-month period ending June 30, 2026, showing resilient revenue growth across its retail and consumer finance

Borsatalkhaleej

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

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 17.06 0.33 (1.97%)
ALDREES 121.20 1.20 (1.00%)
SASCO 43.16 -0.22 (-0.51%)
ALSAIFGALLERY 6.55 0.02 (0.30%)
CENOMIRETAIL 18.62 0.75 (4.19%)
OQGN gets BBB- ratings from S&P, Fitch with stable outlook

24/08/2026

Global credit rating agencies S&P Global and Fitch have both assigned OQ Gas Networks (OQGN) a BBB- rating with a stable outlook.

S&P said its BBB- global-scale issuer credit rating on OQGN

Muscat Daily

Al-Jawhara Savings: NBK introduces seamless digital onboarding for Zeina Children's accounts

24/08/2026

National Bank of Kuwait (NBK) continues to reinforce its leadership in digital innovation and advanced banking services with the introduction of digital onboarding for the Zeina Account through the N

Kuwait Times

Burgan Bank achieves MSCI ESG Rating upgrade to 'BBB'

24/08/2026

Marking an important milestone in the Bank's continued progress toward stronger sustainability and responsible banking practices, Burgan Bank announced that MSCI has upgraded the Bank's ESG Rating fr

Kuwait Times

Saudi Airlines Compete Against Post-Summer Slump With Cost-Cutting Offers

24/08/2026

As travel activity returns to normal levels following a busy summer season and the start of the academic year, Saudi airlines have opened the door to price competition, offering discounts of up to 50

Asharq Al Awsat

Commercial Bank concludes exclusive offer for Mastercard World Credit Card holders

24/08/2026

Commercial Bank of Kuwait (Al-Tijari) has concluded its exclusive offer for premier customers who are Mastercard World Credit card holders. The special deal provided cardholders with an exceptional o

Kuwait Times