Al Othaim to own 88% stake in SAR 100 mln recruitment firm

Abdullah Al Othaim Markets ​said on Tuesday that it ​signed a partnership agreement to establish Mueen Recruitment, a closed joint stock company under incorporation.

The new entity’s paid up capital would​ ​be​ ​SAR 100 million. The Riyadh-based firm will be engaged in manpower recruitment activities.

Al Othaim will own an 88 percent stake in the new entity, to be financed from the company’s own resources. The relevant approvals are being finalized, according to the company’s filing on Tadawul, Saudi Arabia’s bourse.