Advanced Industries Co. opens 2 new investment portfolios

11/05/2014 Argaam

Saudi Advanced Industries Company signed today two portfolio management agreements with Alistithmar Capital and Audi Capital.

The purpose of these portfolios is diversifying the company’s investments and income sources and will be financed by the company’s internal resources as well as local banks; the company said in its filing to Tadawul today.

These investments will be recorded at fair market value with the unrealized gains/losses recognized within the period’s income. The income statement effect will be realized at the end of each financial period.

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