Riyadh-Mubasher: Jazan Development Co. (Jazadco) said it will move forward with selling its 110,420 shares in SABIC to Aloula Geojit for SAR 10.5 million, which includes a 5% profit margin.

 Jazadco’s general meeting approved on Sunday the initial contract for the deal that was signed with Aloula Geojit Capital in 2014.

Aloula will pay Jazadco the total funds on 20 December 2015, through depositing them in Jazadco’s portfolio at Aloula Geojit Capital, or depositing them in its bank accounts.