SAIC board plans to distribute 300,000 shares in Obeikan Glass to shareholders

17/03/2024 Argaam
Logo ofSaudi Advanced Industries Co. (SAIC)

Logo of Saudi Advanced Industries Co. (SAIC)

The board of Saudi Advanced Industries Co. (SAIC) recommended on March 16 the distribution of 300,000 shares in Obeikan Glass Co. to shareholders.

 

The move will allow SAIC to maximize the investment value for its shareholders. This distribution will help Obeikan Glass fulfill the liquidity condition necessary for its transition from Nomu-Parallel Market to the Main Market (TASI).

 

Any material updates will be announced later after the approval of competent authorities and the company’s shareholders, the statement added.

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