Tihama to invest SAR 37.5M in Saudi Film Fund for 10% stake

Logo of Tihama Advertising and Public Relations Co.

Tihama Advertising and Public Relations Co. signed on May 6 an agreement with Saudi Film Fund, in partnership with the Cultural Development Fund, to invest SAR 37.5 million in exchange for a 10% stake in the fund's capital.

To access more news and details about investment funds

In a statement to Tadawul, Tihama said its board of directors approved the investment on May 5. This decision followed the company's completion of the financial restructuring procedure and a comprehensive assessment of investment opportunities, as well as a thorough review of the terms and conditions of the fund.

Additionally, the company examined the investment strategy of the fund and the Ministry of Culture in the film industry, aligning with Vision 2030 objectives to bolster the industry and position the Kingdom as a global leader in the film industry.

The fund marks a significant milestone as the first of its kind to include government sector participation. This pioneering initiative provides Tihama with a unique opportunity to spearhead advancements in the film industry, positioning it as the first public joint-stock company to engage in such investments. This move also aligns with the company's strategic expansion plans within its sector.

Any significant developments in this regard will be announced, the statement added.