Riyadh – Mubasher: Jeddah court on Monday has issued a final ruling for in favor of Saudi Industrial Export Co (SIEC) to recover SAR 14.05 million from Afia International Co.
Afia, the Egypt-based edible oil manufacturer, must pay this amount out of SAR 15 million to SIEC, according to a statement to the Saudi Stock Exchange (Tadawul).
On 10 December 2017, SIEC received an initial judgment from a Jeddah court, stipulating that it would redeem insurance fees at a value of SAR 14.05 million from Afia International.
SIEC’s stock rose 2%, closing Monday at SAR 272.01.
