Omnipreneurship Newsletter

Red Sea International Company announced that its Extraordinary General Assembly has approved the material transaction related to First Fix, in which the company holds a 51 percent stake. The other shareholders of First Fix are preparing to offer 12 million ordinary shares, representing 30 percent of its share capital, through an initial public offering on the Saudi Exchange.

RSI confirmed that it will not sell any of its shares as part of this offering and will continue to retain a 51 percent ownership stake in First Fix, reinforcing its long-term commitment to the company’s growth and success.

RSI first acquired its majority stake in First Fix in June 2023 for 544.2 million SAR, recognizing the company’s strong capabilities in delivering design, engineering, and MEP construction services. Since then, RSI has supported First Fix in scaling its impact across more than 190 global projects, reinforcing their position as a key player in advancing the Kingdom’s construction sector.

With the IPO approval, RSI is taking another significant step in its growth story, underlining its ability to drive expansion, create shareholder value, and contribute to Saudi Arabia’s dynamic and evolving economy.