Riyadh - Mubasher: Saudi Pharmaceutical Industries and Medical Appliances Corporation (SPIMACO) announced Sunday selling 77 million shares of its stake in Yanbu National Petrochemicals (Yansab), according to a bourse filing.
According to the company’s statement to the Saudi Stock Exchange (Tadawul), SPIMACO sold the shares for a total of SAR 340.6 million, with an average selling price of SAR48.65 per share, achieving capital profits of SAR 270.6 million.
Proceedings will go to financing the company’s current and future projects, the statement added.
